A shift in the demand curve means
a. a change in demand at every price
b. a rise in prices
c. a decrease in both price and quantity demanded
d. a change in consumer income
Ans: a. a change in demand at every price
You might also like to view...
Which of the following people is frictionally unemployed?
A) Samantha, who worked part-time in J.C. Penney to help with the Christmas rush but was laid off in January B) Amanda, a sales associate at J.C. Penney who quit her job to attend school full time C) Tran, a building construction supervisor who was fired because of a downturn in the building industry that is the result of a general downturn in the economy D) Eugene, a pharmaceutical drug salesman who was laid off when his company lost a large contract with an HMO E) Cara, an executive who lost her job because her company could not compete with foreign competition and whose skills are not wanted by other companies
Maximizing the level of output for a given total cost of production
A) necessitates using only relatively low-priced inputs. B) will maximize total revenue. C) is equivalent to producing the profit maximizing output level. D) is equivalent to minimizing cost for a given level of output.
Suppose that in 2009, private investment spending was $500 billion, government investment was $300 billion, and depreciation was $250 billion. How much did the capital stock increase in 2009 (assume there were no other changes that affect the capital stock)?
a. $300 billion b. $500 billion c. $550 billion d. $800 billion e. $1.05 trillion
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, Point F
A. is efficient and attainable. B. cannot be produced with the current state of technology. C. represents underallocation of resources. D. represents what the people want.