If X and Y are complementary goods, the demand curve for X will shift to the right when the price of Y increases
a. True
b. False
Indicate whether the statement is true or false
False
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If the interest rate on Japanese yen assets falls while interest rates in the United States remain constant, the
A) quantity of dollars demanded will increase. B) quantity of dollars demanded will decrease. C) demand for dollars will increase. D) demand for dollars will decrease.
JC's music production company provides artists with studio time and a backing band to record with. In providing the rhythm track, JC can employ drum machines or drummers
Regardless of the quantity of output JC produces, he can substitute two drummers with one drum machine—drum machines tire out less quickly). Draw a few isoquant lines (with numbers) reflecting this production function for the rhythm track. Determine the function representing this production process.
For most goods and most people, marginal utility probably: a. continues to increase as larger quantities are purchased. b. declines as consumption increases
c. plummets after the first few units but soon begins to rise. d. is negative after the first unit of a good is purchased.
In this graph, when disposable income is 3,000, consumption is
A. 2,000.
B. 2,500.
C. 3,000.
D. 3,500.