A movement along a demand curve from one price-quantity combination to another is called a:
A. change in demand.
B. change in quantity demanded.
C. change in quantity supplied.
D. shift in the demand curve.
Answer: B
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In recent decades the United States has incurred overall balance of payments deficits
Indicate whether the statement is true or false
In the traditional Keynesian model, an increase in current taxes
A) increases disposable income but does not affect consumption. B) decreases both disposable income and consumption. C) decreases disposable income but increases consumption. D) has no effect on either disposable income or consumption.
Antitrust laws attempt to promote competition by controlling
a. market structure only b. market conduct only c. market structure and performance d. market structure and conduct e. market structure, conduct, and performance
It is true that the distribution process carried out by the price system
A. accomplishes the task more efficiently than central planners would. B. favors the rich. C. is superior to other rationing mechanisms because it is able to pay attention to individual consumer preferences. D. All of these responses are true.