An increase in the excise tax on cigarettes raises the price of cigarettes by shifting the:
A. demand curve for cigarettes rightward.
B. demand curve for cigarettes leftward.
C. supply curve for cigarettes rightward.
D. supply curve for cigarettes leftward.
Answer: D
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It is customary to express changes in the exchange rates of two currencies over time, as:
a. the loss of purchasing power of one currency divided by the loss of purchasing power of the other currency. b. the percentage change expressed as an appreciation or depreciation of one against the other. c. a ratio of the absolute values (without signs). d. a ratio of the price of gold in each nation.
A decrease in quantity demanded is given by a(n):
A. downward shift of the demand curve. B. upward shift of the demand curve. C. downward movement to the right along the demand curve. D. upward movement to the left along the demand curve.