If the price of steel, an input into the production of automobiles, rises, and at the same time the price of gasoline rises, what will happen to the equilibrium price and quantity of automobiles?
The equilibrium quantity will fall. The change in the equilibrium price is ambiguous.
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Refer to the information above. What is the approximate value of the multiple of combined physical and human capital that the rich country must have in order to produce 10 times the output per person of the poor country?
A) 1000 B) 100 C) 25 D) 15
If the demand for money depends on the interest rate, then a 15% increase in the money supply will increase
A. nominal GDP by more than 30%. B. nominal GDP by 15%. C. nominal GDP by less than 15%. D. real GDP by 30%.
If the amount of high-powered money were 100 and the bank reserve holding ratio was 0.25 then the maximum stock of deposits would be (assuming that all money is deposited in the banking system)
A) 500. B) 450. C) 400. D) 350.
The profit-maximizing price and quantity of the monopolist compared to the perfectly competitive industry in the above figure are, respectively
A) A and B. B) A and C. C) A and F. D) C and F.