________ is determined by the world demand for and the world supply of the good
a. Tariff
b. World price
c. Exchange rate
d. Terms of trade
b
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According to the new classical economics, predictable changes in aggregate demand
a. affect the level of real output. b. will not affect the level of real output. c. may or may not affect the level of real output. d. None of the above
Here's what we know about last year's weekly demand for 2-night DVD rentals in the Village of Harmony: When P = $3, Qd = 100; at P = $5, Qd = 75; and when P = $7, Qd = 50. This year the village population has increased by 25%
What impact is this most likely to have? A) Each individual's demand for DVD rentals will increase. B) Each individual's demand curve for DVD rentals will shift to the left. C) The market demand curve for DVD rentals shifts left. D) The market demand for DVD rentals increases.