By an "increase in demand," economists mean that:
A. product price has fallen so consumers move down to a new point on the demand curve.
B. the quantity demanded at each price in a set of prices is greater.
C. the quantity demanded at each price in a set of prices is smaller.
D. a leftward shift of the demand curve has occurred.
Answer: B
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In the figure above, the shift in the demand curve for U.S. dollars from D0 to D2 could occur when
A) the U.S. interest rate falls. B) the U.S. interest rate rises. C) people expect that the dollar will appreciate. D) foreign interest rates fall.
A tariff on imported peanuts ________ the quantity of peanuts imported and ________ the domestic price of peanuts
A) decreases; decreases B) decreases; increases C) increases; lowers D) does not change; increases
In monopolistic competition, a firm must determine what price to set for its good because
A) the demand for its good is not perfectly elastic. B) the demand for its good is perfectly elastic. C) there are many buyers. D) there are many sellers.
Which of the following items is included when computing M1?
a. All of the answers are correct. b. Coins in circulation. c. Checking accounting entries. d. Currency in circulation.