A large increase in the supply of HD-TV sets occurs simultaneously with a smaller decrease in its demand. As a result, the equilibrium price will ________ and the equilibrium quantity will ________.
A. decrease, increase
B. increase, decrease
C. decrease, decrease
D. increase, increase
Answer: A
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Suppose the price of a scooter is $200 and Cora Lee is willing to pay $250. Cora Lee's
A) consumer surplus from that scooter is $200. B) consumer surplus from that scooter is $50. C) marginal benefit from that scooter is $100. D) consumer surplus from that scooter is $150. E) consumer surplus from that scooter is $250.
Which of the following is likely to cause a decrease in the wage rate and an increase in the employment level of a country?
A) A left shift in the demand curve for labor, without any change in the supply curve for labor B) A left shift in the supply curve for labor, without any change in the demand curve for labor C) A right shift in the supply curve for labor, without any change in the demand curve for labor D) A right shift in the demand curve for labor, without any change in the supply curve for labor
Refer to the above figure. The rightward shift of the curve could have been caused by
A) a technological improvement. B) a technological setback. C) an increase in income. D) a decrease in income.
Other things equal, an increase of corporate bonds from $140 billion to $150 billion in the economy would:
A. not change the size of the public debt.
B. increase the public debt from $460 billion to $470 billion.
C. increase the public debt from $600 billion to $610 billion.
D. decrease the public debt by $20 billion.