An increase in demand for a good means that people will buy more of the good at
A. least one price.
B. at some prices.
C. at most prices.
D. at all prices.
D. at all prices.
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Suppose the quantity supplied of computers increases from 2 million to 4 million units as the price of a computer increases from $600 to $700. What does the price elasticity of supply equal?
What will be an ideal response?
Assume that both the demand curve and the supply curve for DVD players shift to the left but the demand curve shifts more than the supply curve. As a result,
A) both the equilibrium price and quantity of DVD players will decrease. B) the equilibrium price of DVD players will decrease; the equilibrium quantity may increase or decrease. C) the equilibrium price of DVD players may increase or decrease; the equilibrium quantity will decrease. D) the equilibrium price of DVD players will increase; the equilibrium quantity may increase or decrease.
The "story of agriculture" in the United States is one of
a. lesser output per acre and a greater number of farms b. smaller farm size and greater output per acre c. increase in technological adaptation on smaller farms d. governmental intervention in determining all farm prices e. technological advance, greater productivity for farms, and fewer farms
Banks cannot influence the money supply if they are required to hold all deposits in reserve
a. True b. False Indicate whether the statement is true or false