In January, buyers of gold expect that the price of gold will fall in February. What happens in the gold market in January, holding everything else constant?
A) The demand curve shifts to the right.
B) The quantity demanded increases.
C) The quantity demanded decreases.
D) The demand curve shifts to the left.
Answer: D
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The equilibrium price under an import quota is below the price that occurs with free trade
Indicate whether the statement is true or false
Which one of the following is most likely to reduce the mobility of labor between jobs?
a. an increase in the minimum wage b. legislation relaxing licensing requirements for entry into many occupations c. the taxation of unemployment compensation in the same manner as income from other sources d. both b and c above
The Gini coefficient measures:
a) Income inequality b) Inflation c) Unemployment d) Economic growth
The base year is the year
A) in which prices are unstable. B) in which prices are lowest. C) in which prices are highest. D) that serves as a reference point or benchmark. E) in which nominal output is largest.