If price of a good rises, what happens to the demand for that good, all other things held constant?
A. The demand increases.
B. The demand decreases.
C. The demand does not change.
D. The outcome depends upon the supply of the good.
Answer: C
You might also like to view...
What does a firm's LRAC curve show? How is it related to the firm's short-run ATC curves?
What will be an ideal response?
If the United States produces the same level of output each year instead of increasing it,
a. the unemployment rate will rise. b. the unemployment rate will remain unchanged. c. the unemployment rate will fall. d. there will be full employment.
The large budget deficits of 2001-2011 were
a. financed entirely through borrowing from domestic sources. b. accompanied by a rapid increase in private investment, which will enhance the welfare of future generations of Americans. c. accompanied by an increase in consumption as a share of GDP, which indicates the current generation of Americans is gaining at the expense of future generations. d. accompanied by large trade surpluses, which will enhance the welfare of future generations of Americans.
Research has shown that the inflation in a country is:
A) always high if there is a fixed exchange rate. B) always low if there is a flexible exchange rate. C) not dependent on the choice of exchange rate regime. D) higher in developing countries coming out of hyperinflation.