When demand changes, there is a ____, whereas when the price changes, there is a ____. Question 14 options:
A. change in the quantity demanded; change in demand
B. shift in the demand curve; movement along the demand curve
C. movement in the quantity demanded; shift in buying plans
D. movement along the demand curve; shift in the demand curve
B. shift in the demand curve; movement along the demand curve
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Because central banks intervene in currency markets, the term ____ has been used to describe the system.
A. planned float B. controlled float C. flexible D. dirty float
Economic profits are calculated as:
A. total revenue minus explicit costs. B. total revenue minus all opportunity costs, explicit and implicit. C. total revenue minus implicit costs. D. None of these is true.
A Pareto improvement is any action that makes at least one individual better off, and harms no one
a. True b. False
A society's production possibility frontier is bowed in from the origin due to specialized resources.
Answer the following statement true (T) or false (F)