A movement along a demand curve from one price-quantity combination to another is called a:
A. change in demand.
B. change in quantity supplied.
C. shift in the demand curve.
D. change in quantity demanded.
Answer: D
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Recall the Application. The European nations that adopted the euro as a common currency no longer have their own central banks and are therefore no longer able to conduct their own independent
A) trade policy. B) fiscal policy. C) international investment. D) monetary policy.
A central bank accepts deposits from
A) the federal government and commercial banks. B) commercial banks and private businesses. C) private businesses and individuals. D) individuals, private businesses, commercial banks, and the federal government.
The Laffer curve represents the relationship between real GDP and various possible tax rates
a. True b. False Indicate whether the statement is true or false
Refer to the above graph. If the production possibilities curve for an economy is at CD but the economy is operating at point X, the reasons are most likely to be because of:
A. Technological progress and industrial change
B. Increases in the quantity and the quality of resources
C. Improvement in labor productivity and the number of work-hours
D. Unemployment and inefficient allocation of resources