Other things being equal, the effects of an increase in the price of crackers on the market for soup is represented by a(n):
a. downward movement along the demand curve for soup.
b. upward movement along the demand curve for soup.
c. rightward shift in the demand curve for soup.
d. leftward shift in the demand curve for soup.
d
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If, at the current price, there is a shortage of a good, then
a. sellers are producing more than buyers wish to buy. b. the market must be in equilibrium. c. the price is below the equilibrium price. d. quantity demanded equals quantity supplied.
If real GDP increases,
A. The money demand curve shifts to the left B. The money demand curves just to the right C. There is movement down along a stationary money demand curve
Price of Good X(Px)Quantity of Good X(Qx)Own Price ElasticityTotal Revenue01000.000590-0.11450A80-0.258001570-0.4310502060-0.6712002550C125030B-1.5012003530-2.3310504020-4.00D4510-9.00450500-?0The demand function in the accompanying table is QXd = 100 ? 2PX. Based on this information, when PX = $30, quantity demand, QXd (point B), is:
A. 80. B. 100. C. 40. D. 60.
If the foreign exchange rate is 70 cents for one Swiss franc, then
A. a wine that costs 200 francs will cost $14.00. B. a house that costs 100,000 francs will cost $700,000.00. C. a car that costs 40,000 francs will cost $7,143.00. D. a clock that costs 500 francs will cost $350.00.