During the 1990s, the price of VCRs fell by about 30 percent, and quantity sold decreased by the same amount. The demand for VCRs must
What will be an ideal response?
have shifted to the left.
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In the table above, what inflation rate belongs in space C?
A) 17.0 percent B) 6.8 percent C) 8.3 percent D) -4.0 percent
Taking action to reveal one's own private information is called:
A. screening. B. signaling. C. statistical discrimination. D. proofing.
Which of the following is not an assumption of the perfect competition model?
What will be an ideal response?
Refer to the above graph. The shift of the budget line from AB to CD is consistent with:
A. decreases in the prices of Good 1 and Good 2 in equal proportion. B. an increase in the price of Good 1 and no change in the price of Good 2. C. a decrease in the price of Good 2 and no change in the price of Good 1. D. a decrease in money income.