Consider the market for camera film. If more people start using digital cameras, which do not require film,
A) the supply curve of film shifts rightward.
B) the demand curve for film shifts leftward.
C) there is a movement up along the demand curve for film.
D) there is a movement down along the demand curve for film.
E) neither the demand curve nor the supply curve for film shifts; instead there is a movement along both.
B
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In the above figure, the price paid by the buyer before the tax is ________ per compact disc, and the price paid by the buyer after the tax is ________ per compact disc
A) $20; $20 B) $20; $30 C) $30; $20 D) $30; $30
There is:
A) a strong positive correlation between per capita GDP and infant survival. B) a weak positive correlation between per capita GDP and infant survival. C) no correlation between per capital GDP and infant survival. D) a weak negative correlation between per capita GDP and infant survival.
When economists describe "a market," they mean
A. any place where, or mechanism by which, buyers and sellers interact to trade goods, services, or resources. B. any place where stocks and bonds are traded. C. a hypothetical place where the production of goods and services takes place. D. a communication network that allows individuals to keep in touch with each other.
The quantity of real GDP demanded on the AD curve is the equilibrium real GDP when
A) equilibrium expenditure is greater than real GDP. B) aggregate planned expenditure equals real GDP. C) the price level equals the equilibrium price level. D) aggregate planned expenditure is greater than real GDP. E) aggregate planned expenditure is less than real GDP.