Refer to the graph below with three demand curves. An increase in price, other factors constant, would cause a change from:
A. Point 4 to point 5
B. Point 3 to point 6
C. Point 1 to point 5
D. Point 2 to point 4
Answer: B
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The cost of producing an additional unit of a good or service that falls on people other than the producer is
A) the marginal cost. B) represented by the demand curve. C) represented by the supply curve. D) the marginal external cost. E) the marginal social cost.
In the foreign exchange market, what factor leads to a movement along the demand curve for dollars?
What will be an ideal response?
The AIC is a statistic
A) that is used as an alternative to the BIC when the sample size is small (T < 50) B) often used to test for heteroskedasticity C) used to help a researcher chose the number of lags in a time series with multiple predictors D) all of the above
To measure core inflation, the BLS removes goods that:
A. have historically volatile prices. B. are considered necessities. C. are luxury goods. D. are durable and hold a constant value.