An increase in demand occurs when
A) we measure price in money price rather than real price.
B) we move up the demand curve.
C) the demand curve shifts to the right.
D) the demand curve shifts to the left.
Answer: C
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Which of the following is TRUE about the World Bank?
A) It is a multinational agency that specializes in development loans. B) It is a U.S. agency that specializes in development loans. C) It is a U.N. sponsored agency that specializes in development loans. D) It is made up of all central banks in the world.
Using the income approach, the largest component in the calculation of GDP is:
a. net interest. b. rental income. c. profits. d. compensation of employees.
Regarding the price elasticities of demand, which of the following statements is true?
a. Price elasticities vary considerably from product to product b. Luxurious goods are generally less price elastic. c. Necessities are generally more price elastic. d. All of these statements are true.
Which of the following statements is (are) true of a monopoly? (i) A monopoly has the ability to set the price of its product at whatever level it desires. (ii) A monopoly's total revenue will always increase when it increases the price of its product. (iii) The more a monopoly increases output, the higher the profits
a. (i) only b. (ii) only c. (i) and (ii) only d. (ii) and (iii) only