Which of the following will cause the demand curve for a good to shift to the right?
a. a decrease in income
b. an increase in the price of a complementary good
c. a decrease in the price of the good
d. an increase in the price of a substitute good
e. an expectation that the price of the good will decline in the near future
D
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The abnormal net income model predicts a negative relationship between economic profits and stock prices
Indicate whether the statement is true or false
At $10 a sculpture, an art dealer supplies 50 copies of a sculpture, but there is demand for 30 more. The art dealer has a ______.
a. shortage of 30 b. shortage of 20 c. surplus of 30 d. surplus of 20
Farming in poor countries is considered to be ___________ intensive because __________.
A. labor; labor is typically relatively cheaper than machinery in poor countries B. capital; the labor used is concentrated, spread thinly across a lot of capital C. labor; the tools in poor countries are more plentiful than the people D. capital; the tools in poor countries are relatively cheaper than the cost of using people in poor countries
A basic characteristic of the firms in an oligopoly market structure is that they are: a. large (relative to the total market) and interdependent. b. large (relative to the total market) and independent
c. small (relative to the total market) and interdependent. d. small (relative to the total market) and independent.