To an economist, an increase in demand means the same thing as an increase in quantity demanded
Indicate whether the statement is true or false
False
You might also like to view...
Which of the following statements concerning the First Bank of the United States is not true?
a. Its creation was proposed by Alexander Hamilton. b. States' rights advocates opposed its creation. c. It could present state bank notes to the state banks for payment in specie. d. It was the first central bank in the world. e. It was able to control the money supply.
If a competitive price-taking firm is operating in long-run equilibrium and market demand suddenly falls, the short-run result will be
a. greater economic profit. b. a normal profit. c. lower average total cost. d. lower average variable cost. e. economic losses.
What happens when a nation's currency depreciates?
(A) Its products become cheaper to other nations. (B) Its trade increases. (C) Its trade decreases. (D) Its products become more expensive to other nations.
A bubble is best defined as a(n)
A. increase in the price of an asset resulting from fundamental causes. B. increase in the price of an asset resulting from factors other than fundamental causes. C. decrease in the price of an asset resulting from fundamental causes. D. decrease in the price of an asset resulting from factors other than fundamental causes.