A decrease in quantity demanded because of an increase in price is represented by a
A) rightward shift of the demand curve.
B) leftward shift of the demand curve.
C) movement up and to the left along the demand curve.
D) movement down and to the right along the demand curve.
C
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Which of the following theories predicts that there can be no sustained rise in real GDP per person above the subsistence level?
i. Classical growth theory ii. New growth theory A) i only B) ii only C) Neither i nor ii D) Both i and ii E) None of the above because whether the rise in real GDP per person is sustained or not depends on what created the rise.
According to the text, which of the following are both imports and exports for the United States?
A. Cars, computers, and auto parts. B. Computers, oil, and auto parts. C. Baseballs, computers, and cars. D. No single product can be both an import and an export for a given country.