A rightward shift of 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.
a
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Which of the following correctly describes the trend in the percentage of U.S. families living in poverty?
a. The poverty rate has steadily increased from approximately 5 percent in 1960 to over 40 percent in 1997. b. The poverty rate has steadily declined from approximately 40 percent in 1960 to under 5 percent today. c. The poverty rate steadily declined from about 22 percent in 1959 to about 12 percent in 1969, and has fluctuated since then. The poverty rate in 2002 was approximately 12.1 percent. d. The poverty rate steadily increased from about 12 percent in 1960 to about 22 percent in 1970, and has fluctuated since then.
To reduce distortions in the economy, it is probably better to finance temporary large government spending with
A) deficits. B) taxes. C) exports. D) all of the above E) none of the above
When the Defense Department ordered 132 new airplanes, the cost per plane was estimated to be $580 million. A cut in the order to 75 planes increased the per plane cost to $800 million. This change in per unit cost can be explained by:
A. A move to minimum efficient scale B. The law of diminishing returns C. The loss of economies of scale D. An increase in fixed cost
Which of the following best describes the entire U. S. refreshment beverage market?
A) monopoly B) oligopoly C) monopolistic competition D) perfect competition