Which of the following would be expected to cause an increase in the supply of desktops?
A. The expectation that the price of desktops will increase in future
B. An increase in the price of desktops
C. An increase in the number of business firms demanding desktops
D. A decrease in the cost of manufacturing desktops
Answer: D
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Suppose the market demand curve for pizza can be expressed as QD = 100 - 2P + 3Pb, where QD is the quantity of pizza demanded, P is the price of pizza, and Pb is the price of a burrito
What is the relationship between burritos and pizza, from the point of view of consumers? A) They are independent. B) They are complements. C) They are substitutes. D) Not enough information to answer the question.
Since 1995, the net interest payment as a percentage of GDP has:
a. declined. b. doubled. c. tripled. d. quadrupled.
Which of the following is a characteristic of a competitive price-taker market?
a. Profit maximizing firms in the market will expand output until price equals average variable cost. b. The market demand curve for the product is a horizontal line. c. There are many firms in the market, each producing a small share of total market output. d. The product produced by each of the firms is differentiated.
Because Federal Reserve Notes (paper currency) are legal tender
A) U.S. workers must accept them as payment for labor services. B) the Treasury Department mandates that the United States will never become a cashless society. C) U.S. firms must accept them as payment for goods and services. D) None of the above are correct.