If the price of Verizon cell phones falls, what will happen to the demand curve for Verizon sales people?
a. It will shift to the right.
b. It will shift to the left.
c. The direction of the shift is ambiguous.
d. It will remain unchanged.
b
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An open economy is one in which exports and imports constitute a large share of GDP.
Answer the following statement true (T) or false (F)
Matthew purchases a candy bar with his allowance. This purchase represents using money as
A) a medium of exchange. B) a store of value. C) an unit of account. D) none of the above.
Suppose autonomous consumption decreases. This reduction in autonomous consumption will cause which of the following to occur?
A) The consumption function shifts down. B) The consumption function shifts up. C) The consumption function becomes steeper. D) The consumption function becomes less steep.
Refer to the above figure. Demand will be elastic when quantity is between
A) 0 and A. B) 0 and B. C) A and B. D) B and C.