The slope of a demand curve is almost always
a. positive, because when people buy more of a good the cost of producing it will rise.
b. positive, because the more money a person has, the more of a particular good will be bought.
c. negative, because when people buy more of a good the cost of producing it will fall.
d. negative, because with everything else equal, the same people will buy more of a good when its price is lower.
e. positive, because as the price rises, people want to sell more of the good.
d
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The Bitcoin:
a. Is an example of VCU1. b. Is an example of VCU2. c. Is an example of VCU3. d. Is an example of VCU4. e. None of the above because the Bitcoin is not a virtual currency.
Which of the following is an example of money illusion?
A. An individual is willing to work more hours when the nominal wage rises by 10 percent and the overall price level rises by 5 percent. B. An individual will neither increase nor decrease the number of hours she is willing to work when the nominal wage rises by 10 percent and the overall price level rises by 10 percent. C. An individual is willing to work more hours when the nominal wage rises by 10 percent and the overall price level rises by 20 percent. D. none of these
If both prices decreases by 50%,
A) budget constraint will be unchanged. B) slope of the budget constraint will increase. C) slope of the budget constraint will decrease. D) budget constraint will shift outward in a parallel fashion.
Refer to the table. The economy shown is a:
A. private economy.
B. private open economy.
C. mixed closed economy.
D. mixed open economy.