An increase in the price of laptop memory chips causes the price for laptops _____________ and the quantity supplied for laptops ____________
a. Increase; increase
b. Increase; decrease
c. Decrease; increase
d. Decrease, decrease
b
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Child labor is a common family survival strategy, especially for farmers in rural areas where it is hard to enforce rules or to reach the poor with any supporting infrastructure or social services
Indicate whether the statement is true or false
Which of the following must decline if there is a reserve deficiency in the banking system?
A) Demand deposits B) Reserves C) Net worth D) The demand deposit multiplier
Over the long run, a surge in aggregate demand from a neoclassical perspective will most likely result in:
a. a rise in level of output b. an increase in price level c. downward pressure on the price level d. pressure for a lower level of inflation
In general, oligopolists compete
A. on many dimensions except for price. B. on price, R&D, and marketing and advertising. C. on price alone. D. None of the above. There is no competition in oligopolistic industries.