A movement along a demand curve is most likely to be caused by
A) a change in the population.
B) a change in expectations.
C) a change in income.
D) a change in the price of a good.
D
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After the Civil War (1861–1865), the cotton South
(a) continued to experience prosperity. (b) was no longer the main contributor to the agricultural sector, as wheat production elsewhere began to prosper. (c) experienced prosperity in some Southern states but not in all. (d) was no longer the major source of income for the South; Southerners quickly supplemented their cotton incomes with income generated by the manufacturing sector.
Compared to two-party systems, proportional-representation systems are thought to:
A. lead to more centrist policies. B. offer a wider variety of platforms among which voters can choose. C. create unwieldy combinations of policies within one platform. D. be much less efficient and lead to very few compromises when voting.
If Pat's income increased from $250,000 to $500,000 and his consumption increased from $200,000 to $300,000, what was his marginal propensity to consume?
a. 0.4 b. 0.6 c. 0.8 d. 0.9
Equilibrium price must decrease when demand
a. increases and supply does not change, when demand does not change and supply decreases, and when demand decreases and supply increases simultaneously. b. increases and supply does not change, when demand does not change and supply decreases, and when demand increases and supply decreases simultaneously. c. decreases and supply does not change, when demand does not change and supply increases, and when demand decreases and supply increases simultaneously. d. decreases and supply does not change, when demand does not change and supply increases, and when demand increases and supply decreases simultaneously.