As a result of advances in technology, cellular telephones have become cheaper to produce. Illustrate the effect of this change on the market for cellular telephones
What will be an ideal response?
As illustrated on the graph, the decreased cost of production leads to an increase in the supply of cellular telephones, with the result that the price of the product decreases and the quantity sold increases.
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The aggregate supply curve is the total quantity of
A) raw materials offered for sale at different inflation rates. B) final goods and services offered for sale at the current inflation rate. C) final goods and services offered for sale at different inflation rates. D) intermediate and final goods and service offered for sale at different inflation rates.
China chooses to have ________ and ________ and therefore, cannot have free capital mobility at the same time
A) a fixed exchange rate; no control of monetary policy B) a fixed exchange rate; an independent monetary policy C) a flexible exchange rate; an independent monetary policy D) a flexible exchange rate; no control of monetary policy
The intersection between demand of US dollar and the supply of US dollar is known as
a. Inflation rate b. Exchange rate c. Price d. Quantity
Nominal net farm income ________ dramatically during the 2007-2009 great recession
Fill in the blank(s) with correct word