When quantity demanded increases at every possible price, the demand curve has
a. shifted to the left.
b. shifted to the right.
c. not shifted; rather, we have moved along the demand curve to a new point on the same curve.
d. not shifted; rather, the demand curve has become steeper.
b
You might also like to view...
Refer to Table 2-17. What is James's opportunity cost of making a wagon?
A) 2 tricycles B) 1/2 of a tricycle C) 3/4 of a wagon D) 1/2 of a wagon
The efficiency-wage theory of worker turnover suggests that firms with higher turnover will have
a. higher production costs and higher profits. b. higher production costs and lower profits. c. lower production costs and higher profits. d. lower production costs and lower profits.
When the Federal Reserve reduces its target rate of inflation, it will set a ________ real interest rate at every inflation rate and the aggregate demand curve will ________.
A. lower; shift to the right B. higher; shift to the left C. lower; shift to the left D. higher; shift to the right
Market failure occurs when:
A. markets have perfect information. B. markets do not produce the most efficient outcome. C. companies merge to increase efficiency. D. companies are too efficient.