An increase in the price of ice cream is likely to cause:
A. a movement to the left along the demand curve for ice cream.
B. an inward shift of the demand curve for ice cream.
C. an outward shift of the demand curve for ice cream.
D. a movement to the right along the demand curve for ice cream.
A. a movement to the left along the demand curve for ice cream.
Economics
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If the Japanese economy is currently suffering from a recession we should expect U.S. exports to Japan to
a. decrease. b. increase. c. remain the same. d. increase only if the Japanese Yen depreciates.
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If a firm in a perfectly competitive market triples the quantity of output sold, then total revenue will
a. more than triple. b. less than triple. c. exactly triple. d. Any of the above may be true depending on the firm's labor productivity.
Economics