When the price of a good falls, there will be
A) an outward shift in the good's demand curve.
B) both an outward shift in the good's demand curve and a movement along the good's demand curve.
C) a movement along the good's demand curve.
D) no change in quantity demanded.
C
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A utility-maximizing consumer always purchases a good that yields the greatest average utility per dollar of expenditure
a. True b. False Indicate whether the statement is true or false
The demand for reserves will increase at lower levels of GDP
a. True b. False Indicate whether the statement is true or false
An adverse supply shock will shift short-run aggregate supply
a. right, making prices rise. b. left, making prices rise. c. right, making prices fall. d. left, making prices fall.
The most common form of economic decentralization involves
A. having very little government involvement in the economy. B. markets, where people buy and sell goods and services. C. government officials making economic decisions. D. government ownership of the means of production.