Demand curve shift upward - Study guides, Class notes & Summaries

The production possibilities frontier is the A) maximum output that can be produced at an opportunity cost of zero. B) minimum output that can be produced when resources are used inefficiently. C) boundary between the combinations of goods and services that can be produced and the combinations that cannot be produced, given the available factors of production and the state of technology. D) boundary between the combinations of goods and services that can be produced and the combinations...

BSNS exam prep, Multiple Choice Questions And Correct Answers, With Complete Verified Solution. As price decreases (a) demand increases. (b) the demand curve shifts left. (c) the supply curve shifts right. (d) quantity demanded increases. d A general increase in consumer incomes (a) leads to a movement along the demand curve. (b) shifts the demand curve to the right. (c) shifts the demand curve to the left. (d) shifts the demand curve, but it may shift left or right. d The slope ...

Demand Curve Shift Upward (direct relationship-positive shift) - ️️The price of subsitute goods, expectations of price changes, income for normal goods, and extent of market Demand Curve Shift Downward (inverse relationship-neg. shift) - ️️The price of complement good, income for inferior goods, and consumer boycotts SWOT analysis - ️️strengths, weaknesses, opportunities, threats Three common measures of price inflation: - ️️1. The Consumer Price Index (CP) 2. The Produ...

BSNS exam prep, Multiple Choice Questions And Correct Answers, With Complete Verified Solution. As price decreases (a) demand increases. (b) the demand curve shifts left. (c) the supply curve shifts right. (d) quantity demanded increases. d A general increase in consumer incomes (a) leads to a movement along the demand curve. (b) shifts the demand curve to the right. (c) shifts the demand curve to the left. (d) shifts the demand curve, but it may shift left or right. d The slope ...

Macroeconomics - ANSWERSThe study of the economy as a whole, including inflation, growth and unemployment. Aggregate demand - ANSWERSThe total of all demands or expenditures in the economy at any given price. Aggregate demand curve - ANSWERSShows the relationship between the price level and equilibrium national income. As the price level rises the equilibrium level of national income falls. Animal spirits - ANSWERSBusiness confidence: the mood of managers and owners of firms about the f...

Question 1 10 / 10 points The branch of economics that examines the impact of choices on aggregates in the economy is: Question options: positive economics. normative economics. macroeconomics. microeconomics. Question 2 10 / 10 points When we are forced to make choices we are facing the concept of: Question options: ceteris paribus. free goods. scarcity. the margin. Question 3 10 / 10 points An economic system is the set of rules that define _______ and _______ . Question op...

ECON 2301 Test 1 - Verified with 100% Correct Answers Through war, many of the factories in country 1 are destroyed and many of its people are killed. As a result, the country's PPF has shifted to the left. Points that lie outside (or beyond) the PPF are unattainable. The economy moves from point A, where it produces 100 units of X and 200 units of Y, to point B where it produces 200 units of X and 150 units of Y. It follows that B and C (point A may be a productive inefficient point; point A...

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ECN 211 ASU Exam 3 With Questions and Correct Answers. Recession - ANSWER -a period of mildly falling incomes and rising unemployment ex. -caused by a leftward shift in aggregate demand and a leftward shift in aggregate supply Depression - ANSWER a severe period of falling incomes and rising unemployment ex. Great Depression The Business Cycle - ANSWER the short-run fluctuations of the economy Economic Fluctuations - ANSWER -are irregular and unpredictable -most macroeconomic variables ...

Chapter 1 Analyzing Economic Problems Solutions to Review Questions 1. What is the difference between microeconomics and macroeconomics? Microeconomics studies the economic behavior of individual economic decision makers, such as a consumer, a worker, a firm, or a manager. Macroeconomics studies how an entire national economy performs, examining such topics as the aggregate levels of income and employment, the levels of interest rates and prices, the rate of inflation, and the nature of b...