A movement upward and to the left along a demand curve is called a(n)
a. increase in demand.
b. decrease in demand.
c. decrease in quantity demanded.
d. increase in quantity demanded.
Answer: c. decrease in quantity demanded.
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Indifference curves do not cross because if you prefer steak over salmon and salmon over chicken then you also prefer
A. chicken over steak. B. steak over chicken. C. steak over salmon. D. chicken over salmon.
Under a fixed exchange rate system, if an appreciation in the value of a country's currency develops, the monetary authorities ________
A) will gain international reserves B) buy the domestic currency in foreign exchange markets C) sell foreign exchange in foreign exchange markets D) will lose international reserves
As one moves down a straight-line demand curve, the elasticity increases
a. True b. False Indicate whether the statement is true or false
The first antitrust act passed was the _____ Antitrust Act.
A. Clayton B. FTC C. Celler-Kefauver D. Sherman