Figure 5-3
In Figure 5-3, a decline in price from 3 to 1 will increase market quantity demanded by
A. 30.
B. 40.
C. 50.
D. 60.
Answer: A
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The above figures show the market for hamburger meat. Which figure(s) shows the effect of an increase in the price of a hamburger bun, a complement for hamburger meat?
A) Figure B B) Figure C C) Figure D D) Figures A and B
Suppose that apples and bananas both cost the same, but the marginal utility of bananas is twice as high as that for apples. This implies the consumer should purchase more apples and fewer bananas in order to maximize utility
a. True b. False Indicate whether the statement is true or false
If people have a sudden decrease in confidence in the open economy of the U.S. and no longer want to invest there, the NCO:
A. increases, and the demand for loanable funds curve would shift right. B. decreases, and the demand for loanable funds curve would shift left. C. decreases, and the demand for loanable funds curve would shift right. D. increases, and the demand for loanable funds curve would shift left.
Most entrepreneurs do not have enough money of their own to start their businesses. When they acquire the necessary funds from someone else,
a. their consumption expenditures are being financed by someone else's saving. b. their consumption expenditures are being financed by someone else's investment. c. their investments are being financed by someone else's saving. d. their saving is being financed by someone else's investment.