If the price of automobiles were to decrease substantially, the demand curve for automobiles would most likely
A) shift rightward.
B) shift leftward.
C) remain unchanged.
D) become steeper.
C
Economics
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How is the GDP deflator is calculated
What will be an ideal response?
Economics
Any attempt to capture a consumer surplus, a producer surplus, or an economic profit is called
A) profit-maximizing. B) rent-seeking. C) price discriminating. D) efficiency gain.
Economics
Monopolies misallocate resources because
A) price does not equal marginal cost. B) price does not equal average variable cost. C) marginal cost does not equal average total cost. D) profits are usually positive.
Economics
Which of the following countries (or regions) produces the most output annually?
A. United States. B. China. C. Japan. D. Germany.
Economics