The change in price that results from a rightward shift in demand will be greater if
A) the supply curve is horizontal than if the supply curve is upward sloping.
B) the supply curve is relatively steep than if the supply curve is relatively flat.
C) the supply curve is upward sloping than if the supply curve is vertical.
D) the supply curve is horizontal than if the supply curve is vertical.
B
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Refer to Figure 9.2. A movement from point c to point b could be caused by a simultaneous ________ and ________
A) decrease in government spending; decrease in the price of oil B) increase in government spending; increase in the money supply C) increase in taxes; decrease in government spending D) decrease in taxes; increase in the price of oil
What two principles of mercantilism did the classicists attack?
What will be an ideal response?
A good that is always used with another good
a. elasticity of demand b. substitution effect c. law of demand d. complement e. substitute
Which of the following might decrease the demand curve of labor for minority groups?
A. Elimination of discrimination against blacks. B. Elimination of discrimination against females. C. Easing licensing requirements. D. Increasing discrimination against any minority groups.