A change in the price of carrots will cause a movement along the demand curve for carrots and a shift in the demand for substitute vegetables.
Answer the following statement true (T) or false (F)
True
This statement correctly illustrates the distinction between a movement along and a shift in the demand curve.
Economics
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Which of the following is a possible consequence if a contractionary monetary policy is adopted?
A) The demand for labor will increase. B) The aggregate price level will rise. C) Real output will increase if nominal wages are fixed. D) Real wages will increase if nominal wages are fixed.
Economics
Refer to the above table. If the price of the good produced is $10 and the wage rate is $500, then the marginal revenue product of the 5th worker is
A) $10. B) $50. C) $750. D) $4,750.
Economics