Peanut butter and jelly are complements for consumers. In 2015, the price of peanut butter increased. As a result, the ________ which lead to ________ in the price of jelly and ________ in the quantity of jelly
A) demand for jelly; a decrease; a decrease
B) supply of jelly; a decrease; an increase
C) supply of jelly; an increase; a decrease
D) demand for jelly; an increase; an increase
A
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Refer to Figure 6-10. A unit-elastic supply curve is shown in
A) Panel A. B) Panel B. C) Panel C. D) Panel D.
Between 1990 and 2014, which of these leading industrial countries of the world had the highest average annual growth rate in GDP per capita?
A) Japan B) Canada C) the United States D) Germany
The rapid advance in computer technology is one of the reasons given for the shift of the
a. aggregate demand curve outward. b. aggregate supply curve inward. c. aggregate supply curve outward. d. total expenditures curve upward.
Refer to the above figure. Suppose the economy is at point B and the central bank adopts contractionary monetary policy. In the short run, this will result in
A. the economy moving towards point A. B. the economy staying at point B. C. the economy moving towards point C. D. an outcome that cannot be predicted, because not enough information is given.