Which of the following is most likely to cause a leftward shift of the demand curve for a normal good in the current period?
What will be an ideal response?
an expectation that price will decline in the future
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According to the economic analysis of democracy, citizens do not acquire sufficient information to vote intelligently because
A) money controls the media. B) private concerns matter more to them than public affairs. C) they are apathetic about government. D) they know their vote doesn't really matter. E) the country is a republic, not a democracy.
A business executive who buys a portable computer so that she can work on airplanes is trying to reduce the cost of traveling
a. True b. False
Suppose that a decrease in the price of good X results in fewer units of good Y being demanded. This implies that X and Y are
a. complementary goods. b. normal goods. c. inferior goods. d. substitute goods.
A tariff is:
A. an all-out restriction on imports. B. a tax that government places on imported goods. C. a government-imposed procedural rule limiting imports. D. a quantity limitation placed on imports