An increase in the price of metal raises the cost of manufacturing dishwashers. As a result, the market changes to a new equilibrium because of
a. a surplus of dishwashers.
b. an increase in the demand for dishwashers.
c. a leftward shift in the demand curve for dishwashers.
d. a leftward shift in the supply curve for dishwashers.
D
Economics
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In the model of the open economy with perfect capital mobility, ________ is an exogenous variable
A) Y B) C C) I D) S E) r
Economics
Demand for a necessity, such as food, is
a. both income and price inelastic b. income inelastic and price elastic c. income elastic and price inelastic d. both income and price elastic e. income elastic and perfectly price inelastic
Economics