In the figure above, which movement could be the result of the development of a new, more efficient refining technology?
A) point a to point e
B) point a to point b
C) point a to point c
D) point a to point d
B
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Figure 4.3 illustrates the demand for tacos. A decrease in price of tacos would bring about a movement from
A) point a to point c. B) point c to point a. C) D2 to D0. D) D0 to D2.
According to adaptive expectations theory, expansionary monetary and fiscal policies to reduce the unemployment rate are:
a. useless in the long run. b. useless in the short run. c. ineffective on the price level. d. None of these.
A higher price level __________ the real value of purchasing power of the publics accumulated savings and balances
What will be an ideal response?
The cross-price elasticity of demand between good X and good Y is -0.8. Given this information, which of the following statements is true?
A. The demand for goods X and Y is income elastic. B. Goods X and Y are complements. C. The demand for goods X and Y is elastic. D. Goods X and Y are substitutes.