The demand curve is downward sloping because
A) the price must rise to induce firms to increase quantity supplied.
B) a reduction in the price of a good causes individuals to increase their purchase of that good.
C) an increase in the price will cause a leftward shift in the demand curve.
D) all of the above.
B
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Using the above figure, in the absence of any government intervention, the number of tons of paper produced will be
A) 60 million tons. B) 80 million tons. C) 100 million tons. D) 120 million tons.
Suppose you study abroad in England. When you purchase books and food, these transactions should really be recorded as
A) credits to the capital account and debits to the current account. B) debits to the capital account and credits to the current account. C) debits to the capital account and debits to the current account. D) credits to the capital account and credits to the current account.
A rightward shift of a demand curve is called a(n)
a. increase in demand. b. decrease in demand. c. decrease in quantity demanded. d. increase in quantity demanded.
As the dollar depreciates relative to the Russian ruble, U.S. goods become cheaper for Russians to purchase. Therefore, in the foreign exchange market, the:
A. supply curve of dollars is downward sloping. B. demand curve for dollars is downward sloping. C. supply curve of euros is downward sloping. D. demand curve for euros is upward sloping.