When the price of a product increases, there is Question 29 options:
A. a downward movement along the demand curve.
B. a rightward shift of the demand curve.
C. an upward movement along the demand curve.
D. a leftward shift of the demand curve.
C. an upward movement along the demand curve.
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Today, the share of union membership among public sector workers in the United States is
A) more than twice the share of union membership among private sector workers. B) zero. C) less than half of the share of union membership among private sector workers. D) the same as the share of union membership among private sector workers.
In July, market analysts predict that the price of gold will rise in August. What happens in the gold market in July, holding everything else constant?
A) The supply curve shifts to the right. B) The demand curve shifts to the left. C) The quantity demanded and the quantity supplied increase. D) The supply curve shifts to the left.
What would be the best description of what we assume about money prices in the short run?
A) Money prices of goods and services vary. B) Money prices of goods and services not related to each other. C) Money prices of goods are fixed. D) Money prices of services are fixed. E) Money prices of goods and services are only temporarily fixed.
Attempts are being made to develop a biodegradable plastic using agricultural produce such as potatoes. If these attempts are successful, what will happen to the equilibrium price and quantity of potatoes?
a. Price will increase and quantity decrease. b. Price will increase and quantity increase. c. Price will decrease and quantity increase. d. Price will decrease and quantity decrease. e. No change in equilibrium price and quantity will occur.