A decrease in demand for cameras would likely be caused by
A. a decrease in the price of cameras.
B. an increase in the price of a complementary good.
C. an increase in the price of cameras.
D. an increase in the price of a substitute good.
Answer: B
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The expected real cost of using a unit of capital over a given period of time is known as ________
A) the real rate of interest B) the nominal rate of interest C) depreciation D) the user cost of capital
If a firm in a competitive market doubles its number of units sold, total revenue for the firm will
a. more than double. b. double. c. increase but by less than double. d. may increase or decrease depending on the price elasticity of demand.
Which statement is true?
A. Autonomous C can never be greater than induced C. B. Induced consumption can never be zero. C. As disposable income gets larger, induced C gets larger relative to autonomous C. D. None of these statements are true.
The foreign exchange rate
A. is not relevant when comparing the GDPs of various countries. B. is the price of one currency in terms of another. C. is the same as the price of a product in U.S. dollars. D. is the price of one good or service as compared to a similar good or service.