In January, buyers of gold expect that the price of gold will rise in February. What happens in the gold market in January, holding all else constant?
A) The quantity demanded increases. B) The supply curve shifts to the right.
C) The demand curve shifts to the left. D) The demand curve shifts to the right.
D
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The United States
A. has sometimes attained productive efficiency. B. usually attains productive efficiency. C. never attained productive efficiency.
If economics is correct in its assumption that people are rational, why then would anyone choose to smoke cigarettes?
The Social Security tax is a tax on
a. capital. b. labor. c. land. d. savings.
According to Arthur Laffer, the graph that represents the amount of tax revenue (measured on the vertical axis) as a function of the size of the tax (measured on the horizontal axis) looks like
a. a U. b. an upside-down U. c. a horizontal straight line. d. an upward-sloping line or curve.