A movement along a demand curve is
A) a change in demand and can be caused by a change in consumers' income.
B) a change in the quantity demanded and is caused by a change in the price of the good.
C) a change in the quantity demanded and can be caused by a change in consumers' income.
D) a change in demand and is caused by a change in the price of the good.
Answer: B
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The production possibilities frontier is the boundary between
A) those combinations of goods and services that can be produced and those that can be consumed. B) those resources that are limited and those that are unlimited. C) those combinations of goods and services that can be produced and those that cannot. D) those wants that are limited and those that are unlimited.
The figure above illustrates the effect of
A) an increase in real GDP. B) a decrease in real GDP. C) an increase in the monetary base. D) a decrease in the monetary base.
The Federal Reserve will engage in a repurchase agreement when it wants to ________ reserves ________ in the banking system
A) increase; permanently B) increase; temporarily C) decrease; temporarily D) decrease; permanently
When it comes to basic commodities, the United States is a net exporter of oil and metals and a net importer of farm crops
a. True b. False