If your income doubles and the prices of the goods you buy double then your demand for these goods will likely?

A. Increase
B. Not change
C. Decrease
D. Shift

The opportunity cost of a student is____________?

A. Course fees and rent
B. A loan from the bank
C. What the student could have earned in the best job available by not studying
D. What the student will earn after graduation

The extra utility from consuming one more unit of a good is called ?

A. Marginal utility
B. Additional utility
C. Surplus utility
D. Bonus utility

The price elasticity of demand measures ?

A. The responsiveness of quantity demanded to a change in price
B. How far a demand curve shifts
C. A change in price
D. A change in quantity demanded

A measurement showing how quantity demanded varies with income is the ?

A. Price elasticity of demand
B. Cross-price elasticity of demand
C. Budget elasticity of demand
D. Income elasticity of demand

Which of the following would increase aggregate demand ?

A. Increased saving
B. Increasing import spending
C. Increased taxation revenue
D. Increased investment

Improved training of employees would ?

A. Shift aggregate supply to the right
B. Shift aggregate supply to the left
C. Shift aggregate demand to the right
D. Shift aggregate demand to the left

Increased level consumption ?

A. Shift aggregate supply to the right
B. Shift aggregate supply to the left
C. Shift aggregate demand to the right
D. Shift aggregate demand to the left

The price elasticity of demand is a negative number this means ?

A. Demand is price elastic
B. Demand is price inelastic
C. The demand curve is downward sloping
D. An increase in income will reduce the quantity demanded

if demand is price inelastic ?

A. An increase in price must raise profits
B. An increase in price decrease revenue
C. An increase in price increase revenue
D. A decrease in price reduces sales