A decrease in the demand for a good generally implies that:
a. consumers are willing to buy larger quantities of the good at each price.
b. the demand curve for the good has shifted to the right.
c. consumers are willing to pay a higher price for each unit of the good.
d. the demand curve for the good has become steeper.
e. the demand curve for the good has shifted to the left.
e. the demand curve for the good has shifted to the left.
You might also like to view...
A study by Price Fishback and Shawn Kantor of the University of Arizona shows that after the passage of workers' compensation laws, wages received by workers in the coal and lumber industries fell
Source: Price V. Fishback and Shawn Everett Kantor, "Did Workers Pay for the Passage of Workers' Compensation Laws?" Quarterly Journal of Economics, Vol. 100, No. 3, August 1995
Suppose the respective prices of yogurt, candy bars, and popcorn in Year 1 are $1, $2, and $3 . In Year 2, the unit prices of each are $2, $3, and $4 respectively. Which of the following statements is true of the price level between Year 1 and Year 2? a. It decreased by 20 percent
b. It increased by 33 percent. c. It increased from $6 to $9. d. It decreased at a rate between 20 percent and 50 percent. e. It increased at a rate between 33 percent and 100 percent.
What is the "beggar-thy-neighbor" policy, and why is it a problem for the country that caused it?
What will be an ideal response?
In the 1930s, the United States charged an average tariff rate ________. Today, the rate is ________
A) of 100 percent; 20 percent B) above 50 percent; less than 1.5 percent C) of less than 10 percent; over 40 percent D) of 17 percent; 33 percent