The change in quantity demanded derived from a change in price is
a. the movement along a demand curve
b. the movement along a supply curve
c. a shift in the demand curve
d. a shift in the supply curve
a
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Why must the M2 measure of the money supply always be larger than the M1 measure?
What will be an ideal response?
If the government were to remove rent controls from the New York City rental market, then
A) all would be harmony. B) the price paid by buyers would decrease and the quantity of rental units will decrease. C) the price received by sellers would increase and the quantity of rental units will increase. D) the price received by sellers would decrease and the quantity of rental units will decrease.
A 5% increase in real income usually leads to ________ in money demand
A) a decrease B) no change C) an increase of less than 5% D) a decrease of 5%
Of the following views on the effects of immigration on the receiving nation's economic growth, which have NOT been suggested by economist Julian Simon?
A. Immigrants raise the standard of living of a nation's native population. B. Immigration costs the local population jobs and greatly lowers their incomes. C. Technological progress is driven by population growth. D. Immigration increases a nation's labor pool and encourages ingenuity.