When the number of buyers in a market changes, the market demand curve shifts even if individual demand curves do not shift.
Answer the following statement true (T) or false (F)
True
A change in the number of buyers causes the market demand curve to shift.
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The cross-price elasticity of demand between Texaco gasoline and Mobil gasoline sold at the same intersection would be
a. positive b. negative c. 0 d. 1.0 e. -1.0
Government assistance to the poor in the United States
A. has eliminated poverty in the nation. B. is available to all persons whose income is below the poverty income threshold. C. is available in most cases only to the poor who are elderly, disabled, or families with children. D. is always in the form of cash.
Other things remaining constant, the only way to move along a given supply curve for a product is for:
a. Technological changes to occur b. The number of sellers to increase or decrease c. The price of resources used to produce the product to increase or decrease d. The product's price to increase or decrease
According to the economy in Figure 5.3, net exports
A. Increased the size of GDP from 1970 to 1990. B. Made a positive contribution to GDP from 1990 to 2000. C. Were a positive number from 1970 to 1990. D. Remained constant from 1990 to 2000.