Exhibit 4-5 Supply and demand curves for computers
Which of the following changes could cause the computer market to change as shown in Exhibit 4-5?
A. Lower costs for computer chips and motherboards.
B. The failure of several computer manufacturers.
C. Higher prices for computer software.
D. More features and greater ease of use.
Answer: A
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Pat earns $1,000 per week and spends $850 per week on living expenses, puts $50 in a savings account, and buys $100 worth of shares in a stock mutual fund. Pat's saving is ________, and Pat's saving rate is ________.
A. $150; 15% B. $50; 5.9% C. $50; 5.0% D. $100; 10%
Cost-reducing technological advancements allow suppliers to earn more profits but have no noticeable effect on the supply curve.
Answer the following statement true (T) or false (F)
The first step in the evolution of money involved the use of _____
a. physical commodities b. barter c. pieces of paper representing claims on physical commodities d. pieces of paper with no intrinsic value e. electronic entries representing claims on pieces of paper with no intrinsic value
Property rights and a strong titling system are seen as important to economic development because they allow:
A. loans to be taken out without risk, increasing the quality, not quantity, of investment. B. loans to be taken out against the equity of their assets, increasing investment. C. agencies with authority to verify titling to thrive in the economy. D. savers to invest in property and capital.