The change in price that results from a leftward shift of the supply curve will be greater if
A) the demand curve is relatively steep than if the demand curve is relatively flat.
B) the demand curve is relatively flat than if the demand curve is relatively steep.
C) the demand curve is horizontal than if the demand curve is vertical.
D) the demand curve is horizontal than if the demand curve is downward sloping.
A
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The rate of return that households expect on their savings is determined by:
A) exchange rates. B) interest rates. C) government expenditure. D) tax rates.
In the classical model, what is the impact of changes in the demand for goods and services on aggregate output? Do they affect any real variables?
What will be an ideal response?
A good that is rival but nonexcludable is a ________
Fill in the blank(s) with correct word
Henry can make a bird house in 3 hours and he can make a bird feeder in 1 hour. The opportunity cost to Henry of making a bird house is 1/3 bird feeder
a. True b. False Indicate whether the statement is true or false