Figure 4.3 illustrates the demand for tacos. A decrease in the demand for tacos is represented by the movement from

A) point a to point b. B) point c to point b. C) D2 to D1. D) D0 to D1.


C

Economics

You might also like to view...

Which of the following is an example of an external cost?

A) a grove of trees planted in a park in Seattle B) a library built in Philadelphia C) a new, faster computer chip D) an oil spill off the coast of South America E) a student graduating from college

Economics

Since 1900, real GDP in the United States has grown

A) more rapidly than the population. B) as rapidly as the population. C) more slowly than the population. D) in a random unpredictable manner relative to the population.

Economics

In the market for British pounds, if the current exchange rate is above the equilibrium rate,

a. there is an excess supply of pounds and those who hold pounds will be able to sell them and make a profit b. there is an excess supply of pounds and the exchange rate will fall c. there is an excess demand for pounds and suppliers will not be able to supply enough pounds to meet the demand d. there is an excess demand for pounds and the exchange rate will rise e. the quantity of pounds supplied is barely sufficient to meet the quantity demanded

Economics

Point Y is in the _____ phase of the business cycle.


A. prosperity
B. recovery
C. depression
D. recession

Economics