The "law of demand" refers to the fact that, other things remaining the same, when the price of a good rises,
A) the demand curve shifts rightward.
B) the demand curve shifts leftward.
C) there is a movement down along the demand curve to a larger quantity demanded.
D) there is a movement up along the demand curve to a smaller quantity demanded.
E) the demand curve shifts rightward and there is a movement up along the demand curve to a smaller quantity demanded.
D
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Which of the following is likely to increase the total efficiency units of labor in an economy?
A) An increase in the level of education attained by each worker B) An increase in the amount of capital available to each worker C) An increase in the inflation rate in the economy D) An increase in the unemployment rate in the economy
The economic reasons that underlie the shape of the aggregate supply curve are different from those that underlie the shape of the supply curve for a particular good
a. True b. False Indicate whether the statement is true or false