If the market clearing price of computer tablets rises from $400 to $600, and the market clearing output increases from 5 million to 7 million units,
A) demand decreased and supply remained unchanged.
B) supply increased and demand remained unchanged.
C) demand increased and supply remained unchanged.
D) supply decreased and demand remained unchanged.
C
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The hot-hand fallacy:
A. is the belief that once an event has occurred several times in a row, it is less likely to repeat. B. is the belief that once an event has occurred, it is less likely to repeat. C. is the belief that once an event has occurred several times in a row, it is more likely to repeat. D. is the belief that if an event has never occurred, it is more likely to occur.
Under a gold standard, a balance of payments deficit automatically
a. raised interest rates. b. decreased exports. c. increased domestic prices. d. increased imports.
If the Federal Reserve wants to prevent inflation, it should ________.
A. decrease the money supply to raise interest rates and lower aggregate demand B. decrease the money supply to lower interest rates and increase aggregate demand C. increase the money supply to raise interest rates and lower aggregate demand D. increase the money supply to lower interest rates and raise aggregate demand
In order for product differentiation to take place
A. there must be physical differences among the products. B. there cannot physical differences among the products. C. there may or may not be physical differences among the products.