Assume that the economy is in a recession and consumers are expecting a fall in their income levels. This will cause a(n):
A) left shift in the market demand for all goods.
B) right shift in the market demand for all goods.
C) increase in the total quantity demanded of all goods.
D) decrease in the total quantity demanded of all goods.
A
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A monetary policy target is a variable that
A) the Fed cannot affect directly. B) the Fed has no ability to change. C) the Fed can affect directly. D) equals one of the Fed's main policy goals.
If a country possesses the absolute advantage in the production of one good:
A. then it must also possess the absolute advantage in the production of the other good. B. then it must also possess the comparative advantage in the production of both goods. C. then it must also possess the comparative advantage in the production of the other good. D. it can produce more of that good given the same resources.
The textbook argues that "congestion pricing", if properly implemented, could make all drivers better off by
What will be an ideal response?
Explain how information products are "special."
What will be an ideal response?