How would a decrease in price of Blu-Ray movies affect the demand for Blu-Ray players?
A. Decrease the demand
B. Increase the demand
C. Increase in supply
D. Increase in quantity demanded
Answer: B
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What is the central bank of the United States?
A) There is no central bank in the United States. B) The Department of Treasury C) The Federal Reserve System D) The U.S. Mint E) Each state has its own central bank, which, when all taken together, constitute the central bank of the United States.
According to the BEA, in the second quarter of 2012 purchases of new residential structures rose by 8.9 percent. Using the expenditure approach, this change increases
A) gross private domestic investment. B) government expenditure on goods and services. C) net exports of goods and services. D) personal consumption expenditures.
In the figure above, the marginal rate of substitution (MRS) at point A is
A) greater than the MRS at any other point on the indifference curve. B) equals the MRS at all other points on the indifference curve. C) less than the MRS at any other point on the indifference curve. D) equal to the slope of the budget line.
The long-run effect of an increase in household consumption is to raise
a. both real output and the price level. b. real output and lower the price level. c. real output and leave the price level unchanged. d. the price level and leave real output unchanged.