For a normal good, an increase in consumer income will cause the market demand for the product to:
A. decrease, which is a shift to the left of the demand curve.
B. decrease, which is a shift to the right of the demand curve.
C. increase, which is a shift to the left of the demand curve.
D. increase, which is a shift to the right of the demand curve.
Answer: D
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M1 includes
a. currency. b. demand deposits. c. traveler's checks. d. All of the above are correct.
An improvement in technology will shift the production possibilities curve
A) to the left.
B) along the curve.
C) inward.
D) to the right.
In a two-sided market, a firm that provides services that link together groups of consumers and producers is called a(n)
A) end user. B) platform. C) monopoly. D) tit-for-tat.
According to classical theory, full employment in the labor market occurs
A) only when actual expenditures are greater than desired expenditures. B) only when the economy has just experienced a demand shock. C) whenever aggregate demand is less than aggregate supply. D) at a wage rate at which quantity demanded equals quantity supplied.