An increase in the price of ice cream is likely to cause:
A. a movement to the left along the demand curve for ice cream.
B. an inward shift of the demand curve for ice cream.
C. an outward shift of the demand curve for ice cream.
D. a movement to the right along the demand curve for ice cream.
A. a movement to the left along the demand curve for ice cream.
You might also like to view...
In the ________ increases in the supply of money will ________
A) long run; lead to lower prices B) short run; raise total demand and output C) long run; raise total demand and output D) short run; decrease total demand and output
Suppose the market-clearing price of milk is $3.00 per gallon, but the diary industry persuades the government to establish a legally-mandated price support at $4.00 per gallon. The newly legislated price tends to
A) reduce the demand for milk. B) increase the production of milk. C) create a shortage of milk. D) decrease the price of milk products.
When the interest rate rises
A) planned investment falls. B) planned investment rises. C) planned investment will be unaffected. D) equilibrium income increases.
The United States balance of payments accounts
a. records all earnings from the foreign activities of U.S. residents. b. records all expenditures of U.S. citizens' abroad. c. records all earnings from the foreign activities of foreign governments. d. Both a and b e. All of the above