The "law of demand" predicts that, other things being equal
A) an increase in the price of downloaded music decreases the demand for downloaded music.
B) a decrease in the price of gasoline decreases the quantity of gasoline demanded.
C) an increase in the price of pizza decreases the quantity of pizza demanded.
D) an increase in the price of coffee decreases the quantity of tea demanded.
C
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Which of the following allow banks to minimize the cost to a business of borrowing?
I. Borrowing long and lending short II. Raising funds from a large number of depositors III. Creating money by lending all their reserves A) I only B) II only C) I and III D) II and III
The price elasticity of supply at a point is the:
A. change in quantity supplied divided by the change in price. B. change in price divided by the change in quantity supplied. C. percentage change in price divided by the percentage change in quantity supplied. D. percentage change in quantity supplied divided by the percentage change in price.
When making a choice to do more of one activity, the highest-valued other choice society does not make is called _______ , and it is measured _______ .
A) opportunity cost; in terms of the money it costs B) increasing cost; in terms of the amount of money spent doing so C) constant cost; by the slope of the production possibilities curve at that level D) opportunity cost; by the slope of the production possibilities curve at that level
If prices are fixed, when aggregate planned expenditure exceeds real GDP, then
What will be an ideal response?