What is the difference between an "increase in demand" and an "increase in quantity demanded"?
A) An "increase in demand" is represented by a movement along a given demand curve, while an "increase in quantity demanded" is represented by a rightward shift of the demand curve.
B) There is no difference between the two terms; they both refer to a movement downward along a given demand curve.
C) An "increase in demand" is represented by a rightward shift of the demand curve while an "increase in quantity demanded" is represented by a movement along a given demand curve.
D) There is no difference between the two terms; they both refer to a shift of the demand curve.
C
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Suppose the government of New Country fixes the exchange rate of its currency, the Newo, in terms of the U.S. dollar. Initially the exchange rate is set at $0.50 per Newo. In a crisis, the government changes the exchange rate to $0.25 per Newo. This is an example of a(n):
A. appreciation B. devaluation C. revaluation D. depreciation
Essential goods give rise to corner solutions.
Answer the following statement true (T) or false (F)
Unanticipated deflation can create unemployment if
A) nominal wages are sticky, causing real wages to rise over time. B) nominal wages are flexible, causing people's real incomes to decline. C) banks refuse to make loans at low nominal interest rates. D) nominal interest rates remain positive.
Mergers that significantly impede effective competition are ________.
A) prohibited by both the United States and the European Union laws B) prohibited by the European Union competition laws, but not the United States antitrust laws C) prohibited by the United States antitrust laws, but not the European Union competition laws D) generally legal in both the United States and the European Union