Which of the following will shift the supply curve for laptop computers to the left?
A. a reduction of the number of firms that make laptop computers
B. development of a cheaper microchip used in laptop computer production
C. a subsidy to the laptop computer industry
D. expectations of a future decline in laptop computer prices
Answer: A
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Suppose you find $1000 in your attic and decide to deposit it all into your local bank, which must hold 10% as required reserves. The deposit expansion multiplier suggests that this $1,000 "injection" of new money can, in the theoretical limit,
A) increase the money supply by a little more than $1,000. B) increase the money supply by a little less than $1,000. C) increase the money supply by only $1,000. D) increase the money supply by $10,000.
In a market where the equilibrium price is $7, any price higher than $7 would cause
a. a balanced demand and supply b. an excess supply c. an excess demand d. none of the above
Consumer will always consume more of a good if their income increases
a. True b. False Indicate whether the statement is true or false
Which of the following is not correct? Using data from 2014,
a. immigrants (both legal and illegal) make up about 40 percent of the U.S. population. b. immigration lowers the earnings of native-born workers in the United States by about 1 to 3 percent. c. illegal immigrants make up about 5 percent of the U.S. workforce. d. today the largest percentage of immigrants come from Latin America and Asia, whereas in the 1950s and 1960s the largest percentage came from Europe.