What happens to the demand curve when a nonprice determinant of demand changes?
A. The demand curve shifts horizontally.
B. There is a movement along the demand curve.
C. The consumer moves to a different price point.
D. Nothing changes with the demand curve.
A. The demand curve shifts horizontally.
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An optimizing economic agent will use the ________ rate while calculating the economic cost of a loan
A) exchange B) nominal interest C) real interest D) tax
Economic growth will be associated with a constant price level when
A) the increase in aggregate demand is accompanied by a reduction in short-run aggregate supply. B) the increase in aggregate demand is less than the increase in long-run aggregate supply. C) the increase in aggregate demand exactly equals the increase in long-run aggregate supply. D) the increase in aggregate demand is more than the increase in long-run aggregate supply.
People might withdraw money from interest-bearing accounts,
a. making the interest rate fall, if there is a surplus in the money market. b. making the interest rate rise, if there is a surplus in the money market. c. making the interest rate fall, if there is a shortage in the money market. d. making the interest rate rise, if there is a shortage in the money market.
Which is NOT an example of an intermediate input?
A. A computer chip factory built in Arizona B. Electricity used in a school C. Toilet paper used in an office D. A new chair for a restaurant dining room