Over time, the equilibrium price of a gigabyte of computer memory has fallen while the equilibrium quantity purchased has increased. Based on this we can conclude that:
A. decreases in the demand for computer memory have exceeded increases in supply.
B. increases in the supply of computer memory have exceeded increases in demand.
C. increases in the demand for computer memory have exceeded increases in supply.
D. decreases in the supply of computer memory have exceeded increases in demand.
Answer: B
You might also like to view...
In 1860 four-fifths of the farms with over 500 acres were in the
A. North. B. East. C. South. D. West.
If you pay $4,888 for a $5,000 face value one-year Treasury bill, what is the rate of interest you will receive?
A) 1.02% B) 2.29% C) 4.46% D) 9.78%
Assuming the required reserve ratio is 20 percent and total reserves are set at $20 billion, then the maximum amount of deposits would be
a. $100 billion. b. $40 billion. b. $4 billion. d. $60 billion. e. $120 billion.
The reason the production possibilities curve is bowed outward (concave) is
A) the law of increasing additional cost. B) that technology is constantly changing. C) that the number of resources is increasing. D) that the economy has more capital goods than entrepreneurial effort.