Other things equal, a decrease in the price level will
A) shift the AS curve to the left.
B) shift the AS curve to the right.
C) cause a movement up the AS curve.
D) cause a movement down the AS curve.
D
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All else equal, technological change will be more rapid if
a. the government enhances patent protection b. interest rates are lower c. the government increases research funding d. all of the above e. interest rates are higher
If the price elasticity of demand for opera tickets is estimated to be 4.5, then a 10 percent increase in opera ticket prices would be expected to cause a
a. 4.5 percent decrease in quantity demanded. b. 4.5 percent increase in quantity demanded. c. 45 percent decrease in quantity demanded. d. 45 percent increase in quantity demanded. e. 450 percent increase in quantity demanded