Related to the Economics in Practice on page 67: Increased preference for quinoa would most likely shift the demand curve for quinoa to the ________ and lead to a(n) ________ in the price of quinoa, ceteris paribus.

A. left; increase
B. left; decrease
C. right; increase
D. right; decrease

Answer: C

Economics

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The crowding out effect is often associated with

A) a temporary increase in taxes. B) the reinforcing impact of state and local tax changes on federal tax changes. C) the impact of a tax rate increase when the aggregate supply function is horizontal. D) an increase in the interest rate caused by government borrowing.

Economics

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.

Economics