During the last decade, the price of shoes rose substantially yet people bought more pairs of new shoes each year. This experience suggests that the
A) supply curve of shoes shifted leftward.
B) demand curve for shoes shifted leftward.
C) supply curve of shoes shifted rightward.
D) demand curve for shoes shifted rightward.
D
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Use the following graph to answer the next question.
If AD1 shifts to AD2, with no change in the price level, there will be an increase in Real GDP from ________.
A. Q1 to Q2 B. Q2 to more than Q3 C. Q2 to Q3 D. Q1 to Q3
The first independent federal railroad regulatory agency was:
a. Interstate Commerce Commission. b. Federal Trade Commission. c. Federal Bureau of Alcohol, Tobacco, and Fire Arms. d. United States Fair Trade Commission.
When economists speak of the demand for money, they refer to the amount of money people would like to hold
a. given that it can only be printed slowly b. in the best of all possible worlds c. in their bank accounts rather than their wallets d. at each interest rate e. rather than spend
A move from G to H represents
A. a change in quantity supplied.
B. no change in supply.
C. an increase in supply.
D. a decrease in supply.