You observe that the price of a good rises and the quantity decreases. These observations can be the result of the
A) demand curve shifting rightward.
B) demand curve shifting leftward.
C) supply curve shifting rightward.
D) supply curve shifting leftward.
D
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Which of the following happens when an economy's labor demand curve shifts to the left without any change in its labor supply curve assuming all else equal?
A) The equilibrium wage rate rises. B) The output of the economy rises. C) The aggregate price level falls. D) The unemployment rate rises.
In a perfectly competitive market that is in long-run equilibrium, a rightward shift in the market demand curve results in
A) the price falling in the short run. B) the firms' economic profits falling in the short run. C) firms leaving the industry in the long run. D) none of the events listed above.
Why are most endangered species belong to common property?
What will be an ideal response?
Exit from a market will stop when
A) accounting losses are zero. B) the cost of capital is equal to the risk-free rate of return. C) economic losses are zero. D) none of these choices.