The increase in demand for iPad tablet computers can be explained by:
A. An increase in the technology used to produce iPads, making the supply of iPads increase
B. An increase in the price of laptop computers, making their MU/P decrease
C. The enhanced versatility and storage capacity of iPads, making their MU/P increase
D. An increase in the income of buyers, making the demand for iPads increase
C. The enhanced versatility and storage capacity of iPads, making their MU/P increase
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In the above figure, if the interest rate is 2 percent per year, the ________ because ________
A) demand for money curve will shift; the quantity of money demanded is less than the quantity of money supplied B) demand for money curve will shift; the quantity of money demanded is greater than the quantity of money supplied C) interest rate will change; the quantity of money demanded is less than the quantity of money supplied D) interest rate will change; the quantity of money demanded is greater than the quantity of money supplied E) supply of money curve will shift; the quantity of money demanded is greater than the quantity of money supplied
For consumers, goods A and B are complementary goods. The cost of a resource used in the production of A decreases. As a result
A) the equilibrium price of B will fall and the equilibrium price of A will rise. B) the equilibrium price of B will rise and the equilibrium price of A will fall. C) the equilibrium prices of both A and B will rise. D) the equilibrium prices of both A and B will fall.
Suppose an individual has a fixed amount of wealth to allocate between consumption in two periods (c1 and c2). Any funds not spent in period 1 will earn interest (at the rate r) which will increase purchasing power in period 2 . Consider four possible reactions to an increase in r: I. c1 increases. II. c1 decreases. III. c2 increases. IV. c2 decreases. Which of these is consistent with the
hypothesis that both c1 and c2 are normal goods? a. I, II, III, and IV b. I, II, and IV, but not III c. I, III, and IV, but not II d. I, II and III, but not IV
While vacationing in Turkey you see a rug you consider purchasing. The seller tells you the rug costs 1,200 Turkish lire. A. If the exchange rate is .60 lira per dollar, how many dollars does the rug cost? B. If the dollar depreciates against the lira, will it take more or fewer dollars to buy the rug? Explain