Which of the following examples shows the law of demand?
a. The demand for flashlights remained constant as the price decreased.
b. The demand for avocados remained constant as the price increased.
c. The demand for baseballs increased as the price decreased.
d. The demand for geraniums increased as the price increased.
c. The demand for baseballs increased as the price decreased.
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When the U.S. interest rate ________ relative to foreign interest rates, the supply of dollars ________ and the supply curve of dollars shifts rightward
A) rises; increases B) rises; does not change C) falls; decreases D) falls; increases E) rises; decreases
Prior to and during the period of American colonization, the following occurred in Europe:
(a) Feudal rulers found it easy to force peasants and urban producers to work for them as long-distance trade expanded, the costs of warfare increased, and the land/labor ratio increased as consequence of the bubonic plague. (b) Feudal lords shared profits from output with the peasantry and pumped them into investment expenditures, which accelerated agricultural growth. (c) Conflict among lords and peasants led to many peasant and urban revolts, diverting resources away from production and investment. (d) Financial stability enabled the nobility of Europe to foster growth among feudal lands and increase the riches of both rulers and peasants, producing a period of high economic growth.