If the cross-elasticity of demand for bacon with respect to price of beefsteak is positive, then:
a. an increase in the price of beefsteak will shift the demand curve for bacon outward.
b. a decrease in the price of beefsteak will shift the demand curve for beefsteak outward.
c. an increase in the price of bacon will shift the demand curve for beefsteak inward.
d. a decrease in the price of bacon will shift the demand curve for beefsteak outward.
A
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Interest rates in the United States rise relative to interest rates in other countries. As a result, in the foreign exchange market
A) the supply curve of dollars shifts leftward. B) the supply curve of dollars shifts rightward. C) the demand curve for dollars shifts leftward. D) there is an upward movement along the supply curve of dollars.
The 1990s saw
A) a return to family businesses. B) a flattening of organizations. C) a heightening of organizations. D) an increase in bureaucratic forms of business.
One potential outcome of vote trading would be ______.
a. the disappearance of political parties b. the elimination of the influence of special interests c. special interests prevailing and harming the overall good d. equal representation for all people
Use the following diagram to answer the next question.
We observe that the economy has moved from NX1 to NX2. This could have happened because ________.
A. exports increased by more than imports B. exports decreased C. exports increased by less than imports D. imports increased