The phrase "demand has increased" means that
A) a demand curve has shifted to the right.
B) there has been a downward movement along a demand curve.
C) a demand curve has shifted to the left.
D) there has been an upward movement along a demand curve.
A
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Which of the following is evidence of a surplus of bananas?
A) The price of bananas is lowered in order to increase sales. B) Firms raise the price of bananas. C) The equilibrium price of bananas rises due to an increase in demand. D) The quantity of bananas demanded is greater than the quantity supplied.
The large budget deficits of the early 1990s resulted in large current account deficits
Indicate whether the statement is true or false
Each of the following is a provision of the 1996 welfare reform law except that
A. lifetime welfare benefits would be limited to five years. B. each state receives a lump sum to run its own welfare and work programs. C. any adult found guilty of a felony would be removed from the welfare rolls. D. future legal immigrants are banned from welfare assistance.
A significant portion of actual world trade patterns results from
A. different factor endowments between countries. B. the industrial policies of governments. C. the different tastes and preferences of people in different countries. D. different sizes of the countries.