Which of the following is most likely to shift the demand curve for electricity to the left?
a. consumers becoming more energy conscious.
b. an increase in income.
c. a decrease in the price of electricity.
d. an increase in the price of natural gas, a substitute source of energy.
a
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The benefit of a one-unit increase in an activity
A) decreases as you do more of it. B) is called rational-choice benefit. C) is called marginal cost. D) is always greater than the opportunity cost of that activity. E) is measured by what you must give u
Refer to the above figure. At demand curve D2, price equals ________ and economic rent equals ________
A) OF; KHG B) OF; FHGO C) OE; EKGO D) OE; KHG
The number of CDs purchased increased by 50 percent when consumer income increased by 10 percent. Assuming other factors are held constant, CDs would be classified as:
a. social goods. b. normal goods. c. Giffen goods. d. inferior goods.
Long-run economic growth can be achieved with
A. Neutral monetary policy. B. Contractionary fiscal policy. C. A rightward shift in the long-run aggregate supply curve. D. A rightward shift in the aggregate demand curve.