Technological advancements have led to lower prices and an increase in the sale of color laser printers. How does this affect the market for laser printer ink cartridges?
A) The demand curve for laser printer ink cartridges shifts to the left.
B) The quantity of laser printer ink cartridges demanded increases.
C) The demand curve for laser printer ink cartridges shifts to the right.
D) The quantity of laser printer ink cartridges demanded decreases.
C
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If production involves increasing opportunity cost, then on the production possibilities frontier, moving to a point closer to the horizontal axis will increase the opportunity cost of
A. the good that is shown on the horizontal axis. B. the good that is shown on the vertical axis. C. both of the goods shown on the axes. D. neither of the goods shown on the axes.
Legal constraints will always reduce the size of the economic pie
Indicate whether the statement is true or false
Suppose a nation has a total population of 100,000,000. Out of that, 70% are in the labor force and 65% of the population is employed. What is the nation's unemployment rate?
A) 5.0% B) 7.1% C) 7.7% D) 30.0%
A leftward shift in the demand curve is called:
a. a decrease in demand. b. an increase in demand. c. a decrease in output. d. an increase in income.