Homework Answers
Other things constant, an increase in the price of beef will:
Answer-(b) discourage consumers from buying as much beef.
As per the law of demand, when the price of a commodity falls quantity demanded rises and vice versa, being other things remain constant. Hence, when the price of beef increase, it discourages consumers to buy less of beef. It means the quantity demanded of beef falls.
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Other things constant, an increase in the price of beef will: O A. encourage consumers to...
How will shift right in supply affect equilibrium price, assuming demand remains constant? a. increase b....
How will shift right in supply affect equilibrium price, assuming demand remains constant? a. increase b. decrease c.will not affect it d. cannot be determined According to the law of demand, if the price of a good decreases, its Qd? a. decreases b. increases c. goes to zero d. stays constant According to the income effect, price changes equal changes in? a. money income b.real income c.demand d. utility on the demand curve a chance in price leads a. no...
Other things equal, if the price of a key resource used to produce product X falls,...
Other things equal, if the price of a key resource used to produce product X falls, the: A. product supply curve of X will shift to the right. B. product demand curve of X will shift to the right. C. product supply curve of X will shift to the left. D. product supply curve of X will not shift.
26. The law of demand states that, other things equal, an increase in
26. The law of demand states that, other things equal, an increase in a. price causes quantity demanded to increase. b. price causes quantity demanded to decrease. c. quantity demanded causes price to increase. d. quantity demanded causes price to decrease. 27. Refer to Figure 4. Which of the following would cause the demand curve to shift from Demand B to Demand C in the market for DVDs in the United States? a. a decrease in the price of DVDs b. a decrease in the price of DVD...
Other things remaining same, a right shift in the demand curve will lead to: an increase...
Other things remaining same, a right shift in the demand curve will lead to: an increase in the equilibrium price and the equilibrium quantity, © a decrease in the equilibrium price and an increase in the equilibrium quantity. an increase in the equilibrium price and a decrease in the equilibrium quantity. O a decrease in the equilibrium price and the equilibrium quantity,
If products C and D are close substitutes, an increase in the price of C will:...
If products C and D are close substitutes, an increase in the price of C will: O shift the demand curves of both products to the right. shift the demand curve of C to the left and the demand curve of D to the right. O shift the demand curve of D to the right. tend to cause the price of D to fall.
5 percent increase in corporate income tax rates will, other things remaining the same: A. Decrease...
5 percent increase in corporate income tax rates will, other things remaining the same: A. Decrease the average propensity to consume B. Shift the marginal efficiency of investment (MEI) curve to the left C. Shift the MEI curve to the right D. Have no effect on the MEI curve
5&6 5. Other things equal, if labor productivity improves, the: A. aggregate demand curve would shift...
5&6
5. Other things equal, if labor productivity improves, the: A. aggregate demand curve would shift to the right. B. aggregate supply curve would shift to the left. C. aggregate supply curve would shift to the right. D. aggregate demand curve would shift to the left. Please answer question 6 by referring to the following Aggregate Supply curve. Price level AP Aggregate Supply "Flat" range FOREVE Real GDP 6. The flat portion of the Aggregate Supply curve is characterized by...
63)Suppose consumers consider Mountain Drew and Pepsi Cola sodas to be substitutes. What will happen in...
63)Suppose consumers consider Mountain Drew and Pepsi Cola sodas to be substitutes. What will happen in the Mountain Drew market if given ceteris paribus there is an increase in the price of Pepsi Cola? (a)The demand for Pepsi Cola will decrease (b)The demand for Mountain Drew will decrease (c)The demand curve for Pepsi Cola will shift to the left (d)The demand curve for Mountain Drew will shift to the right (64)Which of the following statements is true? Mudinga has a...
Other things constant, when nominal wages fall, the and the equilibrium price level -__ (Assume household wealth does N...
Other things constant, when nominal wages fall, the and the equilibrium price level -__ (Assume household wealth does NOT change as a result of the decrease in wages.) Short Run Aggregate Supply curve shifts right, falls. Aggregate Demand curve shifts right; falls. Short Run Aggregate Supply curve shifts left: rises. Aggregate Demand curve shifts left: rises.
Ceteris Paribus, an increase in the price of a complement will cause which of the following...
Ceteris Paribus, an increase in the price of a complement will cause which of the following to occur: a. our demand curve to shift to the left and a higher equilibrium price b. our demand curve to shift to the right and a lower equilibrium price c. our demand curve to shift to the left and a lower equilibrium price d. our demand curve to shift to the right and a higher equilibrium price e. our quantity demand at the...
Other things remaining same, a right shift in the demand curve will lead to: an increase in the equilibrium price and the equilibrium quantity, © a decrease in the equilibrium price and an increase in the equilibrium quantity. an increase in the equilibrium price and a decrease in the equilibrium quantity. O a decrease in the equilibrium price and the equilibrium quantity,
If products C and D are close substitutes, an increase in the price of C will: O shift the demand curves of both products to the right. shift the demand curve of C to the left and the demand curve of D to the right. O shift the demand curve of D to the right. tend to cause the price of D to fall.
5&6
5. Other things equal, if labor productivity improves, the: A. aggregate demand curve would shift to the right. B. aggregate supply curve would shift to the left. C. aggregate supply curve would shift to the right. D. aggregate demand curve would shift to the left. Please answer question 6 by referring to the following Aggregate Supply curve. Price level AP Aggregate Supply "Flat" range FOREVE Real GDP 6. The flat portion of the Aggregate Supply curve is characterized by...
Other things constant, when nominal wages fall, the and the equilibrium price level -__ (Assume household wealth does NOT change as a result of the decrease in wages.) Short Run Aggregate Supply curve shifts right, falls. Aggregate Demand curve shifts right; falls. Short Run Aggregate Supply curve shifts left: rises. Aggregate Demand curve shifts left: rises.
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