Refer to the information provided in Figure 12.2 below to answer the question(s) that follow. 
Figure 12.2 Refer to Figure 12.2. A technological advance causes the supply of personal computers to increase. The graph of this situation represents a
A. partial equilibrium analysis because it considers only this one industry.
B. firm-specific analysis because only one firm would be affected by the technological advance.
C. technological analysis because the change resulted from a technological advance.
D. general equilibrium analysis because it identifies what happens to both equilibrium price and quantity of personal computers.
Answer: A
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Jess owns a sandwich sho
A) 1.33. B) 0.75. C) 3.00. D) 4.00. E) 1.50.
The evolution of the payments system from barter to precious metals, then to fiat money, then to checks can best be understood as a consequence of
A) government regulations designed to improve the efficiency of the payments system. B) government regulations designed to promote the safety of the payments system. C) innovations that reduced the costs of exchanging goods and services. D) competition among firms to make it easier for customers to purchase their products.
Moving down a straight-line demand curve, the absolute price elasticity of demand
A) increases. B) is constant. C) decreases. D) varies in uncertain ways.
If the exchange rate between the U.S. dollar and the European euro went from $1.20 US = 1 euro to $1.10 US = 1 euro, then
a. European goods have become less expensive for Americans. b. American goods have become less expensive for Europeans. c. American exports to Europe are likely to increase. d. American imports from Europe are likely to decrease.