If a decrease in price of good X causes the demand curve for good Y to increase, then these two goods are:
a. normal goods.
b. complementary goods.
c. substitute goods.
d. equilibrium goods.
e. market-day goods.
b
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Expansionary monetary policy causes what?
a. a decrease in money supply b. an increase in interest rate c. a decrease in interest rate d. fewer loans to be initiated
Figure 10-9
If the economy were operating at point a in , resource prices would tend to
a.
decrease and move the economy toward point c.
b.
decrease and move the economy toward point b.
c.
increase and move the economy toward point c.
d.
increase and move the economy toward point b.
Bucky and Satchel are offered identical jobs, each paying $80,000 per year. According to behavioral economics:
A. they should feel equally good about the job offer. B. how each will feel about the job offer will depend on their current positions and incomes. C. if Bucky's current income is $60,000 per year, and Satchel's is $70,000 per year, we would expect Bucky to receive twice as much additional utility from taking the job as Satchel would. D. if the jobs will not change their income, they are more likely to switch jobs than remain with the status quo.
If the price of a 32 GB memory card decreases from $25 to $20, the percentage change using the average value (or the midpoint) is:
A. -22.2%. B. -20%. C. -25%. D. -5%.