Which of the following will definitely occur when there is a simultaneous increase in demand and an increase in supply?
A. an increase in equilibrium quantity
B. a decrease in equilibrium quantity
C. an increase in equilibrium price
D. a decrease in equilibrium price
Answer: A
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Equilibrium real income is more stable in the face of aggregate autonomous expenditure variability under
A) a floating exchange rate. B) a pegged exchange rate. C) a fixed exchange rate. D) perfect capital mobility systems.
The tax burden will fall most heavily on buyers of the good when the demand curve
a. is relatively steep, and the supply curve is relatively flat. b. is relatively flat, and the supply curve is relatively steep. c. and the supply curve are both relatively flat. d. and the supply curve are both relatively steep.
According to purchasing-power parity, if over the course of a year the price level in the U.S. rises more than in Japan, then which of the following falls?
a. the U.S. real exchange rate, but not the U.S. nominal exchange rate b. the U.S. nominal exchange rate, but not the U.S. real exchange rate c. the U.S. nominal exchange rate and the U.S. real exchange rate d. neither the real exchange rate nor the nominal exchange rate
How does the introduction of cognition into a consumer's choice between healthy and unhealthy food affect marginal utility per dollar and the quantity of healthy and unhealthy food consumed? Assume utility is maximized.
What will be an ideal response?