When demand decreases, the demand curve shifts
A. on its axis, becoming flatter.
B. upward and to the right.
C. downward and to the left.
D. on its axis, becoming more vertical.
C. downward and to the left.
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The quantity of labor demanded definitely increases if the
A) supply of labor decreases. B) real wage rate falls. C) nominal wage rate rises. D) real wage rate rises. E) nominal wage rate falls.
The term to describe one currency in terms of another is called
a. The interest rates b. The market price c. The inflation rate d. The exchange rate
Utility refers to the:
a. relationship of demand to the supply of a product. b. satisfaction a consumer experiences after a good or service is purchased. c. satisfaction a consumer expects to receive from a good or service. d. ability of a good or a service to have value in the marketplace. e. usefulness of the product consumed.
Assume that the stock of money is determined by the Federal Reserve and does not change when the interest rate changes. This situation means that the
A. supply of money curve is vertical. B. supply of money curve is horizontal. C. supply of money curve is inversely related to the interest rate. D. demand for money curve is directly related to the interest rate.