{"id":988,"date":"2017-10-20T17:13:13","date_gmt":"2017-10-20T11:13:13","guid":{"rendered":"https:\/\/mcqacademy.com\/en\/mcq\/when-the-price-of-sugar-was-low-consumers-indicates-that-2\/"},"modified":"2017-10-20T17:13:13","modified_gmt":"2017-10-20T11:13:13","slug":"when-the-price-of-sugar-was-low-consumers-indicates-that-2","status":"publish","type":"mcq","link":"https:\/\/mcqacademy.com\/en\/mcq\/when-the-price-of-sugar-was-low-consumers-indicates-that-2\/","title":{"rendered":"When the price of sugar was &#8220;low&#8221;, consumers&#8230;indicates that:"},"content":{"rendered":"<p><strong><\/strong> When the price of sugar was &#8220;low&#8221;, consumers in the U.S. spent a total of $3 billion annually on sugar consumption. When the price doubled, consumer expenditures increased to $5 billion annually. This data indicates that:<\/p>\n","protected":false},"author":34,"featured_media":0,"comment_status":"open","ping_status":"closed","template":"","topic":[61],"subject":[5],"class_list":["post-988","mcq","type-mcq","status-publish","hentry","topic-quantitative-demand-analysis","subject-managerial-economics"],"mcq_note":"When the price of sugar was \"low\", consumers in the U.S. spent a total of $3 billion annually on sugar consumption. When the price doubled, consumer expenditures increased to $5 billion annually. This data indicates that\u00a0The demand for sugar is inelastic.","mcq_options":[{"right":"yes","answer":"The demand for sugar is inelastic"},{"right":"no","answer":" The demand curve for sugar is upward sloping"},{"right":"no","answer":" The quantity demanded of sugar increased"},{"right":"no","answer":" The demand curve for sugar is upward sloping and the quantity demanded of sugar increased"}],"multi_answers":"no","subject_terms":[{"id":5,"title":"Managerial Economics","slug":"managerial-economics"}],"topic_terms":[{"id":61,"title":"Quantitative Demand Analysis","slug":"quantitative-demand-analysis"}],"_links":{"self":[{"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/mcq\/988","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/mcq"}],"about":[{"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/types\/mcq"}],"author":[{"embeddable":true,"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/comments?post=988"}],"wp:attachment":[{"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/media?parent=988"}],"wp:term":[{"taxonomy":"topic","embeddable":true,"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/topic?post=988"},{"taxonomy":"subject","embeddable":true,"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/subject?post=988"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}