An increase in quantity demanded
a. results in a movement downward and to the right along a demand curve.
b. results in a movement upward and to the left along a demand curve.
c. shifts the demand curve to the left.
d. shifts the demand curve to the right.
a
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In the United States between 1973 and 2013, the inflation rate
A) increased every year. B) only decreased during the late 1990s. C) only increased during the late 1970s and 1980. D) peaked during the late 1970s and 1980 and was at its generally lowest in the 1990s and 2000s. E) has been relatively constant at approximately 4 percent to 6 percent per year.
There is a famous economics saying that argues "if diminishing marginal productivity never set in then the world could be fed from a flower pot." Explain what this means economically
What will be an ideal response?
When consumers have asymmetric information and when search costs and the number of firms are large, a single-price equilibrium in a competitive market
A) is impossible. B) occurs when price equals average cost. C) occurs when price equals marginal cost plus the search cost. D) occurs when the price is the price a monopoly would set.
The dummy variable trap is an example of
A) imperfect multicollinearity B) something that is of theoretical interest only C) perfect multicollinearity D) something that does not happen to university or college students