With reference to the difference between a change in demand and a change in quantity demanded, which of the following is TRUE?
A) If a good's price goes down, then demand for the good will decrease.
B) If a good's price goes down, then quantity demanded will increase.
C) If demand increases, then the demand curve will shift to the left.
D) If price rises and quantity demanded decreases, then the demand curve will shift to the left.
B
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Graphically, economies to scale are illustrated by
A) a downward sloping long-run average cost curve. B) a horizontal long-run average cost curve. C) an upward sloping long-run average cost curve. D) a long-run average cost curve that is shaped like an upside down U.
Many countries in Latin America experienced raging _________________ during the years of the 1980s and early 1990s with inflation rates often well above 100% per year.
a. deflation b. hyperinflation c. growth d. stagnation