The price of electricity consumption increased in a country. Since electricity is used for the production of various goods and services, this will lead to a ________, assuming all else equal
A) rightward shift of the labor demand curves of firms
B) upward movement along the labor demand curves of firms
C) leftward shift of the labor demand curves of firms
D) downward movement along the labor demand curves of firms
C
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If both the production of goods and services increase and prices rise, then the change in nominal GDP
A) definitely understates the change in production. B) definitely accurately reflect the change in production. C) definitely overstates the change in production. D) either understates or might accurately reflect the change in production. E) More information is needed to determine how the change in nominal GDP compares to the change in production.
How does the decreasing use of DVD players affect the market for prerecorded DVDs?
A) The demand curve for prerecorded DVDs shifts to the left. B) The quantity of prerecorded DVDs demanded decreases. C) The quantity of prerecorded DVDs demanded increases. D) The demand curve for prerecorded DVDs shifts to the right.