In the graph below, a decrease in the price of good Y will result in:
A. A decrease in demand for good Y
B. An increase in demand for good Y
C. An increase in demand for good X
D. A decrease in demand for good X
D. A decrease in demand for good X
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If people have a sudden increase in confidence in the open economy of the U.S. and want to invest there, the interest rate:
A. increases, as NCO increases. B. falls, as NCO falls. C. falls, as NCO increases. D. increases, as NCO decreases.
If the United States exports military hardware, what is the effect in the exchange market? a. It will increase the supply of U.S. dollars
b. It will decrease the supply of U.S. dollars. c. It will increase the demand for U.S. dollars. d. It will decrease the demand for U.S. dollars.
When the price of pistachio nuts is $7.50 per lb. the quantity demanded is 48 lbs. When the price of pistachio nuts is $9.00 per lb. the quantity demanded is 40 lbs
When the midpoint formula is used to measure the price elasticity of demand we can say that the demand for pistachio nuts is A) completely inelastic. B) relatively, but not perfectly, elastic. C) unit elastic. D) relatively, but not perfectly, inelastic.
A horizontal demand curve indicates perfectly elastic demand
a. True b. False Indicate whether the statement is true or false