If both the demand for and the supply of smartphones are increasing, which of the following statements is TRUE?
A. It is impossible to know, given only this information, whether the prices of smartphones will go up or down in the future.
B. The consumer should wait and buy a smartphone later since the price will be lower in the future.
C. The consumer should buy a smartphone now since the price will be higher in the future.
D. The price of a smartphone will be the same in the future as it is now.
Answer: A
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A) raises; increases B) raises; decreases C) lowers; increases D) lowers; decreases
What balance of payment account records foreign investment between countries?
What will be an ideal response?
In a capitalist market economy, the decision to save is made by the same people who make the major investment decisions
a. True b. False Indicate whether the statement is true or false
Suppose it takes Dan 5 minutes to make a sandwich and 15 minutes to make a smoothie, and it takes Tracy 6 minutes to make a sandwich and 12 minutes to make a smoothie. What is the opportunity cost to Dan of making a sandwich?
A. 1/3 of a smoothie B. 5 smoothies C. 3 smoothies D. 15 smoothies