"All else constant, consumers will purchase more of a good as the price falls." This statement reflects the behavior underlying:
A. a change in supply.
B. the supply curve.
C. the demand curve.
D. a change in demand.
Answer: C
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Since the policy will be implemented over time, economists assume that per resident benefits will accrue in increments of $500 (in real terms) at the end of each of the next three years. Find the present value of benefits (PVB) in nominal terms for each resident, assuming an annual inflation rate of 4% and a nominal annual discount rate of 9%.
The Los Angeles area has long been plagued by urban smog. Suppose that one of several ozone-reducing policy options is being evaluated by economists using benefit-cost analysis.
Political incumbents often gain or lose re-election because of a strong or weak economy. Which of the following is an exception to that rule?
A) Al Gore B) George H.W. Bush C) Jimmy Carter D) Herbert Hoover
If the price index is 100 this year, then:
a. there has been no inflation during the year b. the price level is thrice as it was in the base year. c. the price level is one hundred times what it was in the base year. d. the price level is double what it was in the base year. e. the inflation rate has been 100 percent since the base year.
Since 1959 the fraction of persons below the poverty line has fallen
a. True b. False Indicate whether the statement is true or false