An increase in demand means that:
A. the demand curve has shifted to the right.
B. price has declined and, therefore, consumers want to purchase more of the product.
C. given supply, the price of the product will decline.
D. the demand curve has shifted to the left.
Answer: A
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Starting from long-run equilibrium, a large tax cut will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; higher B. expansionary; higher; potential C. recessionary; higher; potential D. recessionary; lower; lower
Refer to the scenario above. What is the probability of getting tails?
A) 25% B) 50% C) 75% D) 100%
Utility as an economic term refers to
a. the amount of electricity generated. b. the ability of a good to satisfy a want. c. tangible goods only. d. services only.
Rising inflationary pressure caused the U.S. to tighten its monetary policy at the end of the 1960s
As a result, market interest rates rose above the Regulation Q ceiling and American banks found it impossible to attract time deposits for re-lending. How did the banks get around this problem? A) by setting their own interest rates and then using better business as compensation for government regulations B) by borrowing funds from European branches, which faced no restriction on the interest they could pay on Eurodollar deposits C) by pushing through new legislation that nullified Regulation Q D) by creating subsidiary branches in foreign countries E) by waiting to trade time deposits until Regulation Q no longer applied