One common mistake in applying the demand and supply framework is to confuse:
a. the shift of a demand or supply curve with movement along a demand or supply curve.
b. whether the supply or demand curve is impacted by the change.
c. the increase in demand with a shift in the supply curve.
d. the increase in supply with a shift in the demand curve.
a. the shift of a demand or supply curve with movement along a demand or supply curve.
One common mistake in applying the demand and supply framework is to confuse the shift of a demand or supply curve with movement along a demand or supply curve.
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A rightward shift of the labor demand curve during a recession due to a government policy leads to ________ if wages are flexible
A) a fall in prices B) a decrease in real wages C) a fall in interest rates D) an increase in employment
A product is considered to be rival if
A) your consumption of the product reduces the quantity available for others to consume. B) you can keep those who did not pay for the item from enjoying its benefits. C) you cannot keep those who did not pay for the item from enjoying its benefits. D) it is jointly owned by all members of a community.
The BRIC nations have one quarter of the world's GDP and more than 40 percent of its population
Indicate whether the statement is true or false
In a move to increase its openness, the Fed has consistently increased the amount of information available to the public. According to the new classical model, the Phillips curve the Fed faces should become more:
a. horizontal. b. very steep. c. vertical. d. unstable.