Homework Answers
Answer.C . Price to decline until an equilibrium is achieved at Po.
Reason- At P2 level, Quantity supplied is more than quantity demanded. AB is the surplus. Price will fall till P= Po at equilibrium level where demand is equal to supply.
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his Question: 1 pt This Test: 50 pts p Other things being equal, E price is...
Suppose that the income elasticity of demand for good X is positive but less than 1. Other things being equal, which of...
Suppose that the income elasticity of demand for good X is positive but less than 1. Other things being equal, which of the following statements is incorrect? O A. Good X is a normal good. OB. The quantity demanded of good X decreases as a consumer's income declines. OC. A consumer buys more X as income rises, but the share of income spent on good X falls. OD. A consumer buys more X as income rises and the share of...
When the price of good X falls and other things remain the same: 1. The quantity...
When the price of good X falls and other things remain the same: 1. The quantity of good X demanded increases, 2. The quantity of good Y demanded decreases, and 3. The quantity of good Z demanded increases Because a fall in the price of good X brings O A. a decrease in the quantity of good Y, good X and good Y are complements O B. a change in the quantity of both good Y and good Z, all...
This Question: 1 pt 16 of 50 (15 c Other things being constant, the only way...
This Question: 1 pt 16 of 50 (15 c Other things being constant, the only way to move along a given supply curve for a product is for O A. the future relative price of related goods to change. O B. the product's relative price to change. O C. the number of sellers to change. O D. technological changes to occur. Click to select your answer
This Question: 1 pt 46 of 60 (39 complete) This Test: 60 pts p Jerry's lottery...
This Question: 1 pt 46 of 60 (39 complete) This Test: 60 pts p Jerry's lottery ticket and candy bar budget is $20 a week. The price of a lottery ticket is $2 and the price of a candy bar is $5 Quantity (lottery tickets per week) Draw Jerry's budget e ad label it. >>>Plot the quantity of candy bars on the x-axis Other things remaining the same, if the price of a lottery ticketfalls, Jerry's budget line Other things...
Question 11 0.16 pts If the price and quantity for an inferior good, Good X, is...
Question 11 0.16 pts If the price and quantity for an inferior good, Good X, is $8 and 6 units at the original equilibrium, what is one possibility for the new equilibrium of Good X if we see income increase and all other factors stay constant? O $6 and 8 units O $10 and 8 units $6 and 4 units O $10 and 2 units O $10 and 4 units Question 12 0.16 pts According to the law of demand,...
DQuestion 1 2 pts The dynamic laws of supply and demand tell us that: prices have...
DQuestion 1 2 pts The dynamic laws of supply and demand tell us that: prices have a natural tendency to rise or increase even when the quantity supplied equals the quantities demanded. excess demand leads to a tendency of prices to fall or decrease. the greater the excess supply, the greater the tendency of prices to fall or decrease. excess supply leads to a tendency of prices to rise or increase. D Question 2 2 pts Simple Supply and Demand...
This Question: 5 pts 28 of 34 (0 complete) The cross elasticity of demand for good...
This Question: 5 pts 28 of 34 (0 complete) The cross elasticity of demand for good A with respect to good B is 0.2. A 10 percent change in the price of good B will lead to aP Goods A and B are percent change in the quantity of good A demanded O A. -2; complements O B. 2; substitutes OC. -0.5; substitutes O D. 0.5; complements This Question: 6 pts 29 of 34 (0 complete) Which of the following...
his Question: 1 pt 1s p An exit poll was conducted of 3700 voters for the...
his Question: 1 pt 1s p An exit poll was conducted of 3700 voters for the election about a recall of a governor. Let X denote the number who voted for the recall. Suppose that in the population, exactly 60% voted for it a. Explain why this scenario would seem to satisfy the three conditions needed to use the binomial distribution. Choose the correct answer below OA. They are satisfied because 1) the data are binary (voted for recall or...
THERE ARE 20 total QUESTIONS PLEASE ANSWER ALL OF THEM QUESTION 1 One way to reduce the recessio...
THERE ARE 20 total QUESTIONS PLEASE ANSWER ALL OF THEM
QUESTION 1 One way to reduce the recessionary gap through fiscal policy is to O increase government purchases. increase taxes. O decrease transfer payments. decrease the MPC QUESTION 2 Which of the following is true of open-market operations? It involves the purchase and sale of government securities by the central bank. O it involves the purchase and sale of stocks and bonds by private banks. It involves measures taken by...
File b--9 구제 -50 Part Five (answer all parts) 0-1200-50P+1 30) (o9 +00Y+e. (001) You are presented with the following regression eo R2 945,n 44 Q-quantity of Coca-Cola demanded P price of Coca...
File b--9 구제 -50 Part Five (answer all parts) 0-1200-50P+1 30) (o9 +00Y+e. (001) You are presented with the following regression eo R2 945,n 44 Q-quantity of Coca-Cola demanded P price of Coca-Cola ps = price of Pepsi-Cola Y = consumer income (a)Do the signs of the estimated coefficients correspond with thé theory of demand? (b) Which of the estimated coefficients are significant at alpka Vos? Which are significant at alpha 005 (e) What can you say about the economic...
Suppose that the income elasticity of demand for good X is positive but less than 1. Other things being equal, which of the following statements is incorrect? O A. Good X is a normal good. OB. The quantity demanded of good X decreases as a consumer's income declines. OC. A consumer buys more X as income rises, but the share of income spent on good X falls. OD. A consumer buys more X as income rises and the share of...
When the price of good X falls and other things remain the same: 1. The quantity of good X demanded increases, 2. The quantity of good Y demanded decreases, and 3. The quantity of good Z demanded increases Because a fall in the price of good X brings O A. a decrease in the quantity of good Y, good X and good Y are complements O B. a change in the quantity of both good Y and good Z, all...
This Question: 1 pt 16 of 50 (15 c Other things being constant, the only way to move along a given supply curve for a product is for O A. the future relative price of related goods to change. O B. the product's relative price to change. O C. the number of sellers to change. O D. technological changes to occur. Click to select your answer
This Question: 1 pt 46 of 60 (39 complete) This Test: 60 pts p Jerry's lottery ticket and candy bar budget is $20 a week. The price of a lottery ticket is $2 and the price of a candy bar is $5 Quantity (lottery tickets per week) Draw Jerry's budget e ad label it. >>>Plot the quantity of candy bars on the x-axis Other things remaining the same, if the price of a lottery ticketfalls, Jerry's budget line Other things...
Question 11 0.16 pts If the price and quantity for an inferior good, Good X, is $8 and 6 units at the original equilibrium, what is one possibility for the new equilibrium of Good X if we see income increase and all other factors stay constant? O $6 and 8 units O $10 and 8 units $6 and 4 units O $10 and 2 units O $10 and 4 units Question 12 0.16 pts According to the law of demand,...
DQuestion 1 2 pts The dynamic laws of supply and demand tell us that: prices have a natural tendency to rise or increase even when the quantity supplied equals the quantities demanded. excess demand leads to a tendency of prices to fall or decrease. the greater the excess supply, the greater the tendency of prices to fall or decrease. excess supply leads to a tendency of prices to rise or increase. D Question 2 2 pts Simple Supply and Demand...
This Question: 5 pts 28 of 34 (0 complete) The cross elasticity of demand for good A with respect to good B is 0.2. A 10 percent change in the price of good B will lead to aP Goods A and B are percent change in the quantity of good A demanded O A. -2; complements O B. 2; substitutes OC. -0.5; substitutes O D. 0.5; complements This Question: 6 pts 29 of 34 (0 complete) Which of the following...
his Question: 1 pt 1s p An exit poll was conducted of 3700 voters for the election about a recall of a governor. Let X denote the number who voted for the recall. Suppose that in the population, exactly 60% voted for it a. Explain why this scenario would seem to satisfy the three conditions needed to use the binomial distribution. Choose the correct answer below OA. They are satisfied because 1) the data are binary (voted for recall or...
THERE ARE 20 total QUESTIONS PLEASE ANSWER ALL OF THEM
QUESTION 1 One way to reduce the recessionary gap through fiscal policy is to O increase government purchases. increase taxes. O decrease transfer payments. decrease the MPC QUESTION 2 Which of the following is true of open-market operations? It involves the purchase and sale of government securities by the central bank. O it involves the purchase and sale of stocks and bonds by private banks. It involves measures taken by...
File b--9 구제 -50 Part Five (answer all parts) 0-1200-50P+1 30) (o9 +00Y+e. (001) You are presented with the following regression eo R2 945,n 44 Q-quantity of Coca-Cola demanded P price of Coca-Cola ps = price of Pepsi-Cola Y = consumer income (a)Do the signs of the estimated coefficients correspond with thé theory of demand? (b) Which of the estimated coefficients are significant at alpka Vos? Which are significant at alpha 005 (e) What can you say about the economic...
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