A business cycle is the pattern of short-run upward and downward movements in production and jobs
Indicate whether the statement is true or false
TRUE
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If a yet-to-be released video game receives a positive review in a popular gaming magazine, what happens to the demand curve for the video game?
A) The demand curve is expected to shift to the right. B) The demand curve is expected to shift to the left. C) The demand curve is not expected to change. D) For those who read the review, demand shifts to the left. For those who don't read the review, demand shifts to the right.
A free good is different from a scarce good because it is:
A) not tradable. B) not produced. C) not scarce. D) found only in nature.
A change in quantity demanded
A) is a shift of the demand curve. B) is a movement along the demand curve. C) can be either a shift or a movement along the demand curve. D) is caused when there is a change in a ceteris paribus factor.
The amount of a particular good that sellers in a market will sell at a given price during a specified period is called:
A. quantity supplied. B. demand. C. supply. D. quantity demanded.