Which of the following will cause a decrease in market equilibrium price and an increase in equilibrium quantity?
A. A decrease in demand
B. A decrease in supply
C. An increase in demand
D. An increase in supply
Answer: D
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A consumer has $40 that he wants to spend. He is faced with four options: a camera that costs $60, a cell phone that costs $150, a book that costs $10, and a Bluetooth speaker that costs $45
Which of the following is a feasible option for the consumer? A) The book B) The camera C) The cell phone D) The Bluetooth speaker
Refer to Table 7-6. Prior to trade, what was the opportunity cost to produce 1 sword in Estonia?
A) 1/3 of a belt B) 3/5 of a belt C) 1.67 belts D) 3 belts
The average person is more likely to make a mistake choosing ___________ than what to have for dinner due to the complex nature of the topic.
A. how to save for retirement B. which college to attend C. which type of health plan to choose D. All of these statements are true.
We can estimate that if a country grows at 7 percent per year, it will double its real GDP per capita in:
A. 2 years. B. 20 years. C. 10 years. D. 35 years.