When demand changes, there is a ____, whereas when the price changes, there is a ____. Question 18 options:
A. change in the quantity demanded; change in demand
B. shift in the demand curve; movement along the demand curve
C. movement in the quantity demanded; shift in buying plans
D. movement along the demand curve; shift in the demand curve
B. shift in the demand curve; movement along the demand curve
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When the economy is hit by a temporary negative supply shock and the central bank does not respond by changing the autonomous component of monetary policy, then in the long run
A) inflation will be lower. B) output will be at its potential. C) output will be lower. D) inflation will be unchanged. E) both B and D.
The key element in preserving a monopoly is
A. government subsidy of critical enterprises. B. keeping potential rivals out of the market. C. guaranteeing availability of substitute products. D. increased advertising expenditure.
Fixed exchange rate is the rate determined in foreign exchange markets by the forces of demand and supply without government intervention
Indicate whether the statement is true or false
Colombia has an absolute advantage in
A. coffee and a comparative advantage in hot dogs.
B. neither coffee nor hot dogs, but a comparative advantage in hot dogs.
C. neither coffee nor hot dogs, but a comparative advantage in coffee.
D. neither coffee nor hot dogs, but a comparative advantage in both hot dogs and coffee.