A decrease in demand is represented by a
a. movement downward and to the right along a demand curve.
b. movement upward and to the left along a demand curve.
c. rightward shift of a demand curve.
d. leftward shift of a demand curve.
d
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Refer to the figure above. The region PCCAF shows the ________ after the imposition of the price ceiling
A) government revenue B) consumer surplus C) producer surplus D) deadweight loss
Which of the following is NOT a reason financial regulation and supervision is difficult in real life?
A) Financial institutions have strong incentives to avoid existing regulations. B) Unintended consequences may happen if details in the regulations are not precise. C) Regulated firms lobby politicians to lean on regulators to ease the rules. D) Financial institutions are not required to follow the rules.
Monetarists and classical economists think very much alike, certainly when compared to Keynesians. For example, they both assume that the
a. velocity of money is constant b. changes in money supply changes GDP c. economy operates at full employment d. price level is constant e. interest rate has no impact on investment
Plato and Aristotle were both concerned about how an unequal distribution of income could cause political instability
Indicate whether the statement is true or false