In the Above Figure,the Shift in the Demand Curve from D

question 70

Multiple Choice

In the above figure,the shift in the demand curve from D to D1 can be the result of

• A)a decrease in income if pizza is a normal good.
• B)a decrease in the price of a sub sandwich,a substitute for pizza.
• C)an increase in the price of soda,a complement to pizza.
• D)an increase in the number of teenagers,all of whom demand more pizza than do other age groups.
• E)new technology that increases the profit from producing pizza.

Distinguish between final goods and services and intermediate goods to prevent double counting in GDP calculation.

Understand the concept of national income and how it relates to GDP, including the various forms of income that constitute national income.

Grasp how changes in productivity and price levels affect economic indicators like GDP and national income.

Analyze the implications of government purchases, net exports, and consumption on GDP.

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