If the demand for high definition televisions increases and the supply of high definition televisions increases, then
A) it is clear that prices will increase; the change in the quantity of televisions sold is ambiguous.
B) it is clear that prices will decrease; the change in the quantity of televisions sold is ambiguous.
C) it is clear that quantity sold will increase; the change in the price of televisions is ambiguous.
D) it is clear that quantity sold will decrease; the change in the price of televisions is ambiguous.
C
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If Billy's reservation price on a snowboard is $250, how many snowboards would he buy if the market price of snowboards is $500?
A. 0 B. 1 C. 2 D. The amount of snowboards purchased would depend on Billy's income.
The reserve ratio refers to
A. the proportion of assets held in the form of cash or deposits in the Federal Reserve. B. the proportion of deposit liabilities that must be held in the form of cash or deposits in the Federal Reserve. C. the proportion of reserves that must be held in the form of vault cash. D. the proportion of reserves that can be loaned out.
The marginal product of labor is
a. the average number of units produced by each worker. b. the additional output produced when another worker is hired. c. a worker's weekly production. d. the total number of units each worker is capable of producing.
An adverse aggregate supply shock could result from:
A. a sharp rise in productivity. B. a rapid rise in oil prices. C. a decline in wages. D. an appreciation of the dollar.