Online music stores such as Apple's iTunes provide an alternative to buying CDs. The introduction of online music stores has shifted:
A. the demand curve of CDs to the right.
B. the supply curve of CDs to the left.
C. the demand curve of CDs to the left.
D. the supply curve of CDs to the right.
Answer: C
You might also like to view...
Refer to the figure above. What is the equilibrium rate of interest when the credit demand curve is CD2 and the credit supply curve is CS1?
A) 3% B) 4% C) 5% D) 2%
A bank has $400 in checkable deposits, $800 in savings deposits, $700 in time deposits, $900 in loans to businesses, $300 in outstanding credit card balances,
$500 in government securities, $10 in currency in its vault, and $20 in deposits at the Fed. The bank's deposits that are part of M1 are equal to A) $1,900. B) $400. C) $1,210. D) $530. E) $410.
Which of the following is a consequence of the voting paradox?
A) The collective preferences of voters are not transitive and voting outcomes are inconsistent. B) Individuals and firms who benefit from government actions engage in rent seeking. C) A majority of voters elect a candidate that does not represent the preferences of the voter who is in the political middle. D) Politicians support small groups of individuals and firms that benefit from special interest legislation, rather than a much larger group of voters who pay the cost for this legislation.
Marginal utility is calculated as
A) total utility/number of units consumed. B) change in total utility/number of units consumed. C) change in total utility/change in number of units consumed. D) total utility/change in number of units consumed.