Rising agricultural prices and opportunities to own land provided people with incentives to migrate to the trans-Appalachian states
Indicate whether the statement is true or false
True
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The percentage change in the quantity demanded of film divided by the percentage change in the price of cameras indicates
a. the price elasticity of demand for film b. the price elasticity of demand for cameras c. the price elasticity of supply for film d. the price elasticity of supply for cameras e. nothing, because the two goods fall into the broadly defined category of photographic equipment
Economics is the study of:
A. how to invest in the stock market. B. how society uses limited resources. C. the role of money in markets. D. how government officials decide which goods and services are produced.
The steepness of a curve is partially determined by the units of measurement.
Answer the following statement true (T) or false (F)
Figure 3-3
In , if the initial demand for margarine were D1, the impact of an increase in the price of margarine from $0.35 to $0.40 per pound on consumer purchases would be illustrated as
a.
a shift in the demand curve to D2.
b.
a shift in the demand curve to D3.
c.
a movement upward to the left along the original demand curve D1.
d.
none of the above.