Refer to the above figure. A movement from point A to point B for a good is most likely a result of
A. a decrease in the price of that good.
B. an expectation of an increase in the relative price of that good.
C. an increase in the price of that good.
D. an expectation of a decrease in the relative price of that good.
Answer: A
You might also like to view...
Suppose the current equilibrium wage rate for landscapers is $6.65 in Little Rock; $7.50 in St. Louis and $9.05 in Raleigh. An increase in the minimum wage to $7.50 per hour results in unemployment of landscapers in
A) Little Rock and St. Louis. B) only Raleigh. C) Little Rock, St. Louis, and Raleigh. D) only Little Rock. E) St. Louis and Raleigh.
Bank examiners are _____.
(A) More interested in regulating the overall money supply than the net worth of member banks. (B) Required to schedule with banks when they plan to visit. (C) Authorized to force banks to sell off investments that they consider excessively risky. (D) Only permitted to label a bank as a "problem bank" if the institution has excessive risks.