An increase in the demand for a good means that
a. the demand curve has shifted to the left.
b. the good's price has fallen and, as a result, consumers are buying more of the good.
c. the good has become scarce.
d. consumers are willing to purchase more of the good at each possible price.
D
You might also like to view...
Because it is a unit of account, money
A) increases transaction costs. B) reduces the number of prices that need to be calculated. C) does not earn interest. D) discourages specialization.
Firm X is producing 1000 units, selling them at $15 each. Variable costs are $3 per unit and the firm is making an accounting profit of $3000 . What is the firm's total costs?
a. $10,000 b. $11,000 c. $12,000 d. $13,000
If there is an excess supply of money in the economy,
a. there is also an excess demand for money b. there is also an excess demand for bonds c. there is also an excess supply of bonds d. the interest rate will rise e. the Fed must intervene to restore equilibrium
A homeowner’s roof is damaged during a hail storm, so the homeowner files a claim with his insurance company. The roof repair will cost $1,000. According to the insurance policy, the insurance company must pay 70% of the repair cost, and the homeowner must pay 30%. Which term describes this method of cost-sharing?
a. Copayment b. Coinsurance c. Deductible d. Fee-for-service