In July, market analysts predict that the price of gold will rise in August. What happens in the gold market in July, holding everything else constant?
A) The demand curve shifts to the left.
B) The supply curve shifts to the left.
C) The quantity demanded and the quantity supplied increase.
D) The supply curve shifts to the right.
B
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During recessions, the value of collateral decreases and corporate profits decrease, so firms do not have cash to finance new investment projects. Therefore, credit rationing depends on the state of the economy. This situation is known as the
A) risk acceptance cost. B) lender's dilemma. C) default premium. D) financial accelerator.
Decision making is a process, what is the first step?
a. Define the decision b. Estimate resources c. Consider alternatives d. Imagine consequences
The equilibrium wage
a. is the same in all labor markets b. occurs where the supply of labor curve begins to bend backward c. cannot be calculated because there are so many labor markets d. is determined by the market demand for labor and the market supply of labor e. is irrelevant because of unions
Regarding the causes of pollution, economists believe that:
a. the pricing system has failed. b. the public interest requires that pollution to be reduced below its market level. c. a firm pollutes the air and water because they are free. d. All of the above are correct.