A decrease in quantity demanded is given by a(n):
A. downward shift of the demand curve.
B. upward shift of the demand curve.
C. downward movement to the right along the demand curve.
D. upward movement to the left along the demand curve.
Answer: D
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The United States and other industrialized countries experienced rising inflation accompanied by a recession during the 1970s. This phenomenon was described as (a)
a. hyperinflation. b. stagnation. c. stagflation. d. depression.
As long as firms currently in a monopolistically competitive market are earning profits:
A. more firms will enter the market with products that are close substitutes. B. the firm will lower its price to keep out competitors. C. the government will step in to regulate prices to ensure they stay competitive. D. more firms will leave the market before the profits are competed away.
By holding so much in foreign currency reserves, China is risking
A. A default on its bonds. B. Recession. C. Inflation. D. Deflation.
The increase in bank supervision in the United States in the 1980s and early 1990s was due to an increase in bank
A. profits. B. ownership of common stocks. C. failures. D. deposits and loans.