Which of the following shifts the demand curve for movie downloads rightward?
A) a decrease in the price of downloading a movie
B) a 10 percent increase in people's income if movie downloads are a normal good
C) a decrease in the price of cable television service
D) an increase in the quantity and quality of programming included in the basic cable television service package
B
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The oil depletion formula discussed in the chapter uses "proven resources" in its calculation. Explain what these "proven resources" are with respect to known and unknown oil reserves, and economical and uneconomical oil extraction met
What will be an ideal response?
The market for eyeglasses is monopolistically competitive. It follows that firms in the eyeglass industry: a. could earn economic profit in long-run equilibrium
b. could earn economic profit in short-run equilibrium. c. charge a price equal to marginal cost. d. charge a price equal to the minimum average total cost.
Which of the following is not a lagging indicator?
A. duration of unemployment B. stock prices C. outstanding commercial and industrial loans D. prime rate
The price mechanism is:
A. affected by both political and social forces. B. affected by political but not social forces. C. affected by social but not political forces. D. not affected by social and political forces.