Differentiate between a change in demand and a change in quantity demanded
What will be an ideal response?
A change in demand refers to the change in the quantity of a good purchased due to changes in any factors other than price. These factors may include a change in income, tastes and preferences, future expectations, or a change in the number and scale of buyers. A change in demand is graphically represented by a shift of the demand curve. On the other hand, a change in quantity demanded refers to a change in the quantity of a good purchased due to a change in the good's price, other things remaining the same. Graphically, a change in quantity demanded is represented by a movement along the same demand curve.
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With regard to transition economies what is meant by shock therapy?
What will be an ideal response?
The natural rate of unemployment
a. is a specific unemployment rate that can be a target for the Fed b. changes as the inflation rate changes c. is natural because it does not change from period to period d. is a measure of the quality of the Fed's performance e. changes as the efficiency of job searches change
Rising economic indicators typically signal ________ in the economy.
A. expansion B. depression C. recession
The WTO explicitly stated that in making its sea turtle decision, it was NOT saying that sovereign nations could not adopt effective measures to protect endangered species. Clearly, it said, sovereign nations can and should develop effective measures, including trade measures, to protect endangered species
Indicate whether the statement is true or false