Refer to the information provided in Figure 3.7 below to answer the following question(s).
?Figure 3.7Refer to Figure 3.7. If pizza and hamburgers are substitutes, an increase in the price of hamburgers will cause a movement from Point B on demand curve D2 to
A. demand curve D1.
B. demand curve D3.
C. Point A on demand curve D2.
D. Point C on demand curve D2.
Answer: B
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Z is a normal good. The equilibrium price and equilibrium quantity of Z in the year 2011 was $25 and 60 units, respectively
It was seen that, in 2014, the equilibrium price of Z had decreased to $15, but the equilibrium quantity had increased to 70 units. Other things remaining the same, which of the following could explain this change? A) Shift of the supply curve of Z to the left B) Shift of the demand curve for Z to the right C) Shift of the supply curve of Z to the right D) Shift of the demand curve for Z to the left
Suppose the currency drain ratio is 25 percent and the desired reserve ratio is 20 percent. The money multiplier equals
A) 4.00. B) 5.42. C) 2.00. D) 2.78. E) 3.00.
Say's Law refers to the concept that: a. increases in aggregate demand create unionization. b. demand creates its own supply
c. supply creates its own demand. d. flexible wages affect price levels.
The unemployment rate in a town in which 65,400 persons are employed and 11,000 are unemployed equals:
a. 11 percent b. 14.4 percent. c. 16.8 percent. d. 10.2 percent.