According to the law of demand, a change in _______ causes a movement along the demand curve.
A. Buyers' expectations
B. The number of buyers
C. The price of the good
D. The price of other related goods
Ans: C. The price of the good
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The Fed increases the quantity of money to counteract
A) a federal budget surplus. B) an inflationary ga
Let demand be given by P = 10 - Q; let supply be given by P = Q. What is the equilibrium price?
A. 2 B. 5 C. 10 D. 0
The increase in the demand for widgets, shown in the figure above, is the result of an increase in the price of McBoover devices. Therefore
A) widgets and McBoover devices are substitutes. B) widgets and McBoover devices are complements. C) widgets are a normal good. D) McBoover devices are a normal good.
The government is looking to double the living standards of its population in 18 years, what rate of GDP growth would it need to achieve that?
a. 1% b. 2% c. 3% d. 4%