Chips and salsa are complements. If the price of salsa decreases, the demand for chips will increase
Indicate whether the statement is true or false
TRUE
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Explain how market economies are generally better able to achieve technological progress than are centrally planned economies
What will be an ideal response?
The different shapes of the aggregate supply curve:
A. Determine the level of reserves held by the banking system. B. Result in the Fed's need for total control of the money supply. C. Determine the impact of monetary policy on price level and output. D. Explain why the Fed must respond to market instability.
Figure 9.5Figure 9.5 shows the short-run and long-run effects of an increase in demand of an industry. The market is in equilibrium at point A, where 100 identical firms produce 6 units of a product per hour. If the market demand curve shifts to the right, what will happen to the number of firms in the industry as the industry moves from point A to point B?
A. It increases. B. It decreases. C. It remains the same. D. either It increases or It decreases or It remains the same
Refer to the information above. What is the level of consumption when the level of income is 850?
A) 375 B) 425 C) 450 D) 475