An increase in demand is reflected as a rightward (outward) shift of the demand curve and is caused by an increase in price
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
Answer the following statement(s) true (T) or false (F)
1. People have rational expectations when their predictions are correct more often than not. 2. Even when econometric equations predict very well, they can be entirely useless as guides to policy. 3. The standard deviation of a portfolio is exactly equal to the average standard deviations of the individual stocks. 4. A risk-averse individual always prefers the basket with the highest standard deviation when choosing among baskets with the same expected value. 5. Uninsurable risks is one reason why fair-odds insurance is not always available.
The price of the average domestic good or service relative to the price of the average foreign good or service, when prices are expressed in terms of a common currency is called the ________ exchange rate.
A. fixed B. real C. flexible D. nominal
A fall in the level of prices
A) does not affect the value of money. B) has an uncertain effect on the value of money. C) increases the value of money. D) reduces the value of money.
A second-price auction
a. is also called an English auction b. is where the highest bidder wins and pays the amount of the next highest bid c. is where the sole remaining bidder wins and pays his winning bid d. all of the above