In this chapter, consumer preferences for various com modities did not change during the analysis. In some situations, however, preferences do change as con- sumption occurs. Discuss why and how preferences might change over time with consumption of these two commodities: a. cigarettes. b. dinner for the first time at a restaurant with a 1. special cuisine.

Suppose an economist believes that the price level in the economy is directly related to the money supply, or the amount of money circulating in the economy. the economist proposes the following relationship: p=a x m - p=price level - m=money supply - a=a composite of other factors, including real gdp, that change very slowly over time. how might an economist gather empirical data to test the proposed relationship between money and the price level? an economist would persuade the federal reserve to change the money supply to various levels, and observe the resulting changes in the price level. unlike researchers in the hard sciences, economists cannot study complex relationships using data. economists do not usually develop theoretical models of the economy but only analyze summary statistics about the current state of the economy. an economist would look for data on past changes in the money supply, and note the resulting changes in the price level

Stock market crashes happen when the value of most of the stocks in the stock market increase at the same time. question 10 options: true false

Karen is working on classifying all her company’s products in terms of whether they have strong or weak market share and whether this share is in a slow or growing market. what type of strategic framework is she using?