A sudden discovery of a new, massive source of uranium in New Mexico will likely cause the price of uranium to ________, which will ________ the quantity of uranium demanded by consumers
A) increase; increase
B) increase; decrease
C) decrease; increase
D) decrease; decrease
C
Economics
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Until 2007, the price of sport utility vehicles (SUVs) rose and each year more were purchased. This experience suggests that
A) there must have been technological advances in the way SUVs are produced. B) the "law of demand" does not hold true in this market. C) there must have movement leftward along the supply curve for SUVs. D) there must have been a rightward shift of the demand curve for SUVs.
Economics
If the nominal interest rate is 8 percent and the inflation rate is 2 percent, the real interest rate is approximately
A) 4 percent. B) 6 percent. C) 0.25 percent. D) 10 percent.
Economics