The figure above shows the market for iPods. Which of the following shifts the demand curve from D0 to D1?
A) a requirement that all students at universities have an iPod
B) a decrease in the price of Zunes, a substitute for iPods
C) a decrease in the price of iPods
D) an increase in the price of iPods
E) an increase in people's incomes
B
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According to the Application, the differential survival of the wealthy created an environment
A) which allowed for economic growth. B) where lower-class people could no longer afford to live in the country. C) that directly led to the demise of the British monarchy. D) which caused increased class warfare.
If income decreases or the price of a complement rises
A) the demand curve for a normal good shifts leftward. B) the demand curve for a normal good shifts rightward. C) there is an upward movement along the demand curve for the good. D) there is a downward movement along the demand curve for the good.
The table below shows four alternative techniques for assembling a car. The cost of labor is $20 per hour, and the cost of capital is $10 per hour. Which of the four techniques for assembling a car is not technologically efficient?
A) T-1 B) T-2 C) T-3 D) T-4
Some pollution may be preferable to zero pollution because
A. attempting to decrease the level of pollution to zero may cause significant losses in society's welfare. B. we really do not have that much pollution. C. the nation's citizens are against government's involvement in solving the pollution problem. D. no form of regulation that has been shown to be effective at solving the pollution problem.