An increase in the price of blue pens will increase both the equilibrium price and quantity in the market for black pens
a. True
b. False
Indicate whether the statement is true or false
True
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A rise in bond prices would cause the price of a dollar to rise.
a. true b. false
The cross-price elasticity between good X and good Y is positive. Other things being equal, if the price of X rises:
A. quantity of Y demanded decreases. B. quantity of Y demanded increases. C. a consumer spends more on good Y than on good X. D. a consumer spends more on good X than on good Y.
Refer to the above graph. What will be the quantity extracted if user costs are considered compared to the case where they are not considered?
Use the following graph to answer question. It shows the extraction costs for TX Oil Company n the first year in a situation where it will extract oil from a reserve over two years.
A. 10 units versus 20 units
B. 20 units versus 10 units
C. 10 units versus 30 units
D. 20 units versus 40 units
In the long run, changes in prices of goods and services paid by consumers have no effect on:
A. aggregate demand. B. the macroeconomy. C. aggregate supply. D. All of these are true.