A movement along a demand curve from one price-quantity combination to another is called a:
A. change in quantity demanded.
B. change in demand.
C. shift in the demand curve.
D. change in quantity supplied.
Answer: A
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Countries where investment is
A) relatively unproductive should have current account deficits. B) relatively productive should have current account surpluses. C) relatively productive should have current account deficits. D) relatively productive should have balanced current accounts. E) relatively unproductive should have balanced current accounts.
Managers in oligopoly firms must
A) eliminate any barriers to entry if they hope to make short-run profits. B) advertise heavily in order to differentiate their product. C) anticipate the reaction of rival firms. D) establish many varieties of their products to cover the spectrum of consumer tastes.
The winners curse is more often associated with;
a. oral auctions b. second-price auctions c. first-price sealed bid auctions d. common value auctions
Recently it has been discovered that lobsters grown on lobster farms can feed on algae, which is a cheaper lobster food. As a result of this discovery,
a. the supply curve for lobster will shift to the left b. the supply curve for lobster will shift to the right c. there will be an increase in the quantity of lobsters supplied d. there will be a decrease in the quantity of lobsters supplied e. both supply and demand curves will shift to the right