A significant increase in the price of basketballs will most likely lead to
A) an increase in the demand for basketball shoes.
B) an inward shift in the demand for basketballs.
C) a movement along the demand curve for basketball shoes.
D) an inward shift in the demand for basketball shoes.
Answer: D
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An increase in quantity supplied is represented by a rightward shift of the supply curve
Indicate whether the statement is true or false
When negative externalities from production exist, the deadweight loss from a competitive market may be larger than with a monopoly
What will be an ideal response?
Core inflation excludes price changes in food and energy because these price changes
a. may not be related to a trend in the economy’s overall price level. b. may be related to trend factors in the economy’s overall price level. c. are not volatile. d. show a constant inflation rate.
The aggregate supply curve indicates the:
A. relationship between prices and the aggregate quantity of goods and services purchased by consumers, investors, governments, and foreigners (net exports). B. relationship between prices and the natural rate of unemployment. C. relationship between the real wage rate and the quantity of labor supplied by households. D. quantity of goods and services producers will supply at different price levels.