Which of the following would cause quantity demanded to change without changing the demand curve?
A. A change in the price of the good
B. A change in the price of a substitute good
C. A change in tastes and preferences
D. A change in income
Answer: A
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The U.S.—Colombia Trade Promotion Agreement was signed on November 22, 2006, in Washington, D.C. This comprehensive trade agreement eliminated tariffs and other barriers to goods and services
Colombia will immediately eliminate tariffs on wheat, barley, peanuts, and many other products in which Columbia does not have a comparative advantage. This policy means that the price of peanuts in Columbia will become A) equal to the free trade price. B) lower than the free trade price. C) higher than the price when a tariff was in place. D) higher than the free trade price.
Use the idea of external costs to explain why some cities have laws against late-night rock concerts
What will be an ideal response?
Explain why the short-run supply curve is not vertical, but the long-run aggregate supply curve is vertical
The nation's disposable income increases by $400 billion and, as a result, consumer spending increases by $320 billion. Therefore, the MPC equals
a. 0.16. b. 0.20. c. 0.60. d. 0.80. e. 0.96.