Which of the following factors will lead to a shift in the demand curve?
A) changes in the costs of inputs
B) changes in technology
C) changes in the price of the good
D) changes in consumers' tastes and preferences
Answer: D
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One of moneys primary roles in the economy comes from the use of money to transfer purchasing power to the future. This role of money is called
A) store of value. B) unit of account. C) medium of exchange. D) standard of deferred payment.
If the production of capital goods is shown along the horizontal axis of a production possibilities curve, and the production of consumer goods is shown along the vertical axis of a production possibilities curve, and the economy desires to have a
rapid rate of economic growth, then the economy should produce at a point A) near the middle of the curve dividing resources equally between the production of consumer and capital goods. B) at a point near the vertical axis concentrating on the production of consumer goods. C) at a point near the horizontal axis concentrating on the production of capital goods. D) at a point inside the curve allowing the economy to adjust rapidly to changes in economic activity.
Figure 8-4
In Figure 8-4 at output level 2,
A. MR > MC. B. the slope of the total profit curve is negative. C. there are negative profits. D. marginal revenue is rising compared to output.
In a game theory model, how is Nash equilibrium achieved?
What will be an ideal response?