Which of the following would most likely shift the supply curve to the left for Wii video games?
a. an increase in the price of Wii video games
b. a decrease in the price of computer chips used to make Wii games
c. a decrease in the demand for Wii games
d. an increase in the price of electronic components used to produce the Wii games
D
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Peet's Coffee and Teas produces some flavorful varieties of Peet's brand coffee. Is Peet's a monopoly?
A) No, Peet's is not a monopoly because there are many branches of Peet's. B) Yes, Peet's is the only supplier of Peet's coffee in a market where there are high barriers to entry. C) Yes, there are no substitutes to Peet's coffee. D) No, although Peet's coffee is a unique product, there are many different brands of coffee that are very close substitutes.
The difference between Gross National Product and Net National Product is the
a. rate of inflation. b. statistical discrepancy encountered in calculating GDP. c. difference between real versus nominal GDP. d. depreciation of the economy's capital stock.
The advertising dilemma is that advertising competition leads to more and more outrageous claims on behalf of products.
Answer the following statement true (T) or false (F)
In the market for money, when the price level ________, the demand curve for money shifts to the ________ and the interest rate ________, everything else held constant.
A. rises; right; falls B. falls; left; rises C. falls; right; rises D. rises; right; rises