An increase in demand is shown graphically by a:
a. Shift of the demand curve to the right
b. Movement down the existing curve
c. Shift of the demand curve to the left
d. Movement up along the existing curve
a. Shift of the demand curve to the right
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Something that changes incentives so as to make otherwise empty threats or promises credible is called a:
A. dominant strategy. B. commitment device. C. strategic device. D. Nash equilibrium.
To close an inflationary expenditure gap of $20 billion in an economy with a marginal propensity to consume of 0.8, it would be necessary to
A. decrease the aggregate expenditures schedule by $4 billion. B. decrease the aggregate expenditures schedule by $20 billion. C. increase the aggregate expenditures schedule by $4 billion. D. increase the aggregate expenditures schedule by $20 billion.
A decrease in a fixed exchange rate from $1.75 per pound to $1.60 per pound is called a(n) ________ of the pound
A) devaluation B) depreciation C) revaluation D) appreciation
Given a Cobb-Douglas production function estimate of Q = 1.19L.72K.18 for a given industry, this industry would have:
a. increasing returns to scale b. constant returns to scale c. decreasing returns to scale d. negative returns to scale e. none of the above