Which of the following is an example of a tie-in sale?
A. In order to buy Dell Computers, you must also buy Microsoft Windows to get the warranty.
B. Bus rides are cheaper for senior citizens than for other people.
C. Two companies merge to form one company.
D. Prices are set just low enough to prevent other firms from entering the market.
Answer: A
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For a given supply curve, an increase in demand will typically
a. increase price, but quantity could change in either direction b. increase quantity, but price could change in either direction c. increase price but leave quantity unchanged d. decrease both quantity and price e. increase both quantity and price
Which of the following pairs of goods are substitutes?
a. baseballs; bats b. bicycles; bicycle helmets c. skim milk; ice cream d. domestic cameras; foreign cameras
If all banks are subject to a uniform 20% reserve requirement and demand deposits are the only form of money, a $1,000 open market sale by the Fed would cause the money supply to
A. increase by $1,000. B. decrease by $1,000. C. decrease by $5,000. D. increase by $5,000.
Which of the following would not be counted in 2016's GDP?
A. the 2016 salary of a used furniture salesperson B. the value of a laser printer manufactured in 2016 but not sold in 2016 C. the commissions earned by a sales associate in selling home theater systems built prior to 2016 D. the value of a 1976 convertible you purchase from a dealer in 2016