An increase in the demand for a good refers to a shift in the
a. demand curve to the left
b. demand curve to the right
c. quantity demanded to the right
d. quantity demanded to the left
e. price of the good
B
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In the circular flow, savings specifically represents
a. households’ cash hoards. b. households’ bank savings account. c. households’ total accumulated dollars. d. total income minus consumption spending.
Using Figure 1 below, if the aggregate demand curve shifts from AD3 to AD2 the result in the long run would be:
A. P1 and Y2.
B. P3 and Y2.
C. P2 and Y1.
D. P3 and Y1.
A downward-sloping demand curve for Korean won in terms of Canadian dollars indicates that the higher the dollar price of Korean won, the more won will be demanded
a. True b. False Indicate whether the statement is true or false
If macaroni and cheese is an inferior good, what would happen to the equilibrium price and quantity of macaroni and cheese if consumers' incomes rise?
a. Both the equilibrium price and quantity would increase. b. Both the equilibrium price and quantity would decrease. c. The equilibrium price would increase, and the equilibrium quantity would decrease. d. The equilibrium price would decrease, and the equilibrium quantity would increase.