Which one of the following would cause a rightward shift in the demand curve of smartphones?
A. Smartphones become easier to use.
B. The price of smartphones decreases.
C. Government regulations are imposed to limit the number of smartphones imported.
D. Production methods are modified to make production of smartphones more efficient.
Answer: A
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Which of the following is the best indicator of the performance of the national economy?
a. The budget deficit of the federal government b. The stock of capital goods (machinery) in the nation c. The nation's stock of money d. The balance of trade with other nations e. The value of the final goods and services produced in the nation
Firms spend significant amounts of time and resources developing pricing strategies
Indicate whether the statement is true or false
A decrease in the average price level leads to a decrease in the purchasing power of wealth
a. True b. False Indicate whether the statement is true or false
The aggregate demand curve shows that, ceteris paribus
A. at higher price levels, total quantity of output supplied is lower. B. at lower price levels, total quantity of output demanded is higher. C. at higher price levels, total quantity of output demanded is higher. D. at lower price levels, total quantity of output supplied is lower.