When supply rises and demand remains the same, equilibrium price ______ and equilibrium quantity ________.
Fill in the blank(s) with the appropriate word(s).
falls; rises
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In international exchange markets, a rise in interest rates in the United States will cause the demand for dollars to ________ and the supply of dollars to ________
A) increase; increase B) decrease; increase C) decrease; decrease D) increase; decrease
Luke recently attended a large pop culture convention in another state. What would be the money costs Luke incurred to attend the show?
a. the payments for the pass, airline ticket, and hotel bill b. the time he could have spent improving his musical ability c. the virus he caught at the crowded convention d. the annoyance of airport lines and security checks
Use the figure below to calculate the cross-price elasticity of demand for good X when the price of good Y increases from $12 to $14:
A. 0.64 B. 0.20 C. 15.38 D. 0.42 E. 2.00
How does the demand for euros change when there is an increase in the European inflation rate relative to the U.S. interest rate?
a. U.S. consumers demand fewer euros, shifting D1 to D2.
b. European products become less expensive to U.S. consumers.
c. U.S. consumers demand more euros, shifting D1 to D2.
d. U.S. goods become relatively more expensive to Europeans.