An increase in quantity demanded is a shift in the entire demand curve.

a. true
b. false


Answer: b. false

Economics

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If demand increases, the equilibrium price and equilibrium quantity will both fall, everything else being equal.

Answer the following statement true (T) or false (F)

Economics

If profits are high because the price level rose,

A) the AS curve shifts leftward. B) it is likely the result of an increase in the real wage rate. C) business failures rise and the quantity of real GDP supplied increases. D) new businesses open and the quantity of real GDP supplied increases. E) potential GDP must be decreasing.

Economics

________ unemployment changes slowly and depends on ________

A) Frictional; the skills of the unemployed B) Seasonal; the rate at which people enter and exit the labor force C) Frictional; the rate at which people enter and exit the labor force D) Structural; the rate at which people enter the labor force E) Structural; the inflation rate

Economics

In the United States, total health care spending per person has been ________, and out-of-pocket spending on health care per person has been ________

A) falling; rising B) rising; falling C) rising; rising D) falling; falling

Economics