An increase in quantity demanded is represented by
a. a shift outward of the entire demand curve.
b. a shift inward of the entire demand curve.
c. a movement along the demand curve in a southeasterly direction in response to a decline in the good's price.
d. a movement along the demand curve in a northwesterly direction in response to a decline in the good's price.
c
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The goal of fiscal policy is to ________, and typically focuses on ________
A) balance the federal budget; tax rates and tax revenues B) stabilize the supply of money in the economy; price stability C) reduce the severity of economic fluctuations; employment and production D) eliminate balance of payments deficits or surpluses; exchange rate stability
By 2020, automobile market analysts expect that the demand for electric autos will increase as buyers become more familiar with the technology
However, the costs of producing electric autos may increase because of higher costs for inputs (e.g., rare earth elements), or they may decrease as the manufacturers learn better assembly methods (i.e., learning by doing). What is the expected impact of these changes on the equilibrium price and quantity for electric autos? A) Unambiguously higher equilibrium price and quantity B) Unambiguously higher price, and equilibrium quantity may be higher or lower C) Unambiguously higher quantity, and equilibrium price may be higher or lower D) We cannot form any unambiguous expectations for either price or quantity
Which of the following is asserted by the Equal Pay Act of 1963?
a. Men and women who perform the same amount and type of work at a company must receive the same pay. b. Men and women who have the same education and skills must receive the same pay from an employer. c. Men and women who have the same amount of job experience must receive the same pay and promotion opportunities. d. Men and women who perform similar tasks at different companies must receive the same pay.
Milk can be used to make yogurt and cheese, other things equal, if consumption starts demanding more yogurt
a. Supply of milk will decrease. b. Demand of milk will increase. c. Answer was NONE are