An decrease in demand is represented by a
A) shift of the demand curve to the left.
B) shift of the demand curve to the right.
C) movement down the demand curve.
D) movement up the demand curve.
Answer: A
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If countries that imported goods and services from the United States recovered from recession, we would expect that U.S. net exports would
a) fall, making aggregate-demand curve shift to the right. b) rise, making aggregate-demand curve shift to the left. c) rise, making aggregate-demand curve shift to the right. d) fall, making aggregate-demand curve shift to the left.
Rick finds a great Internet deal on an all-inclusive vacation rental in the Tropics for $1200, and immediately places a $1000 nonrefundable deposit on it. He later learns that the dates he planned to go are right in the middle of hurricane season, and it is likely to be miserable and potentially dangerous weather the entire time. Rick decides he cannot waste the $1000 and takes the trip anyway. While sitting in the rain, miserable, Rick realizes he should have:
A. ignored his sunk cost of $1200 and skipped the trip. B. ignored his sunk cost of $1000, and skipped the trip. C. hired a lawyer for $1000 to go to court and try to get his deposit back. D. hired a lawyer for $1000 to sue the travel agency.