A move from F to G represents
A. an increase in quantity demanded.
B. a decrease in quantity demanded.
C. an increase in demand.
D. a decrease in demand.
C. an increase in demand.
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Which of the following will most likely occur during the recessionary phase of a business cycle?
a. Real GDP rises, and the unemployment rate falls. b. Real GDP declines, and the rate of inflation rises. c. The sales of most businesses decline, and the unemployment rate rises. d. Inflation rises, and employment/population ratio falls.
A Japanese firm exporting finished products to the United States will be a demander of U.S. dollars and a supplier of Japanese yen in the foreign exchange market
a. True b. False Indicate whether the statement is true or false
The City Symphony presents three open-air concerts in the city park pavilion during the spring and summer. Many who attend make donations for symphony expenses, but the donation is not required. Some who attend make no contributions. Economists would
A. classify the noncontributors as detrimental externalities. B. call the concerts excludable events. C. call the noncontributors free riders. D. call the concerts depletable goods.
What does the graph point at the intersection of $2 per pound and 3,000 pounds of coffee show?
a. an equilibrium point
b. a shortage of quantity supplied
c. a deficit of quantity demanded
d. a surplus of quantity supplied