Which of the following caused the supply curve for HD televisions to shift to the right?
a. the falling prices of component parts
b. the increasing prices of shipping parts
c. old, outdated factories
d. lack of technological advances
a. the falling prices of component parts
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Assume the auto market is initially in equilibrium with imports from Japan taking up a significant share of the market. Now assume a quota on imports of Japanese cars is established
What will occur at the initial equilibrium price to signal market participants regarding the change that has taken place? A) A surplus is created by an increase in supply. B) A surplus is created by a decrease in demand. C) A shortage is created by an increase in demand. D) A shortage is created by a decrease in supply.
A key international institution that plays an important role in exchange rate determination is the
A) U.S. Currency Board. B) European Central Bank. C) World Bank. D) International Monetary Fund.
If a sawmill creates too much noise for local residents,
a. noise restrictions will force residents to move out of the area. b. a sense of social responsibility will cause owners of the mill to reduce noise levels. c. the government can raise economic well-being through noise-control regulations. d. the government should avoid intervening because the market will allocate resources efficiently.
An efficient allocation of resources requires each product’s price equals its marginal cost.
Answer the following statement true (T) or false (F)