For almost all goods, the:
A. lower the price goes, the higher the quantity demanded.
B. higher the price goes, the more luxurious it is.
C. lower the price goes, the higher demand is.
D. higher the price goes, the higher the quantity demanded.
A. lower the price goes, the higher the quantity demanded.
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The rate of unemployment is calculated as the number of
A) people in the civilian labor force divided by the number of unemployed. B) employed workers divided by the number of unemployed workers. C) unemployed divided by the number of people in the civilian labor force. D) unemployed workers divided by the number of employed workers.
If a hurricane were to wipe out the majority of the eastern seaboard in the United States, it would likely cause a:
A. short-run supply shock. B. long-run supply shock. C. long-run demand shock. D. short-run demand shock.