Hamburger Helper Sales Rise

During the 2008 financial crisis and the Covid pandemic in 2020, sales of Hamburger Helper increased. Even today, with the price for food consumed at home 21 percent higher than it was four years ago, sales are up 14.5 percent in the year through August.—nytimes.com

Answer the following questions to check your understanding of the story.

1) How has real income in terms of food changed in the last four years?

Food prices increased, so real income in terms of food _________.

a) didn’t change because real income is independent of food prices

b) decreased by 21 percent, the same percentage that food prices rose

c) increased

d) decreased

2) What does the increase in sales of Hamburger Helper and your answer to #1 tell us?

a) The demand for Hamburger Helper increased because it is an inferior good.

b) The supply of Hamburger Helper decreased because it is a normal good.

c) The supply of Hamburger Helper decreased because it is an inferior good.

d) The demand for Hamburger Helper increased because it is a normal good.

Hamburger Helper Sales Rise

Like this:

Leave a ReplyCancel reply

Share this:

Like this:

Leave a ReplyCancel reply

Discover more from Econ Eye