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- Time left 0:56:44 All of the following except one would increase the amount of a particular model of a Ford automobile that buyers would like to buy. Which is the exception? Select one: O a. an increase in buyers' incomes O b. increased prices of other Ford models an expected future increase in the price Ос. O d. a decrease in the price of steel an increase in the population O e. Next ge eg IMG_7969.jpeg JPEGon A price-taking firm: O a. talks to rival firms to determine the best price for all of them to charge O b. asks the government to set the price of its product O c. sets the product's price to whatever level the owner decides upon O d. cannot influence the price of the product it sells Which of the following is a positive economic statement? O a. Governments should not redistribute income O b. Households are the primary sources of savings O c. The foreign sector should be more tightly controlled O d. Businesses ought to contribute more to charitiesTable 4.6 shows the amount of savings and barrowing in a market for loans lo purchase homes, measured in millions of dollars, at various interest rates. What is the equilibrium interest rate and quantity in the capital financial market? How can you tell? Now, imagine that because of a shift in the perceptions of foreign investors, the supply curve shifts so that there will be 10 million less supplied at every interest rate. Calculate the new equilibrium interest rate and quantity, and explain why the direction of the interest tale shift makes intuitive sense.
- How does a price floor 521 above the equilibrium level affect quantity demanded and quantity1 supplied?Price of a flash drive is 2 USD and the quantity bought of flash drive is 500. What would be the total expenditure on flash drive? a. 250 O b. 1000 O c. 498 O d. None of theseWhat will happen if the price were below the equilibrium price? Select one: O a. Quantity demanded would exceed quantity supplied and there would be a surplus O b. Quantity demanded would exceed quantity supplied and there would be a shortage O c. Quantity supplied would exceed quantity demanded and there would be a surplus O d. Quantity supplied would exceed quantity demanded and there would be a shortage Oe. Quantity supplied would equal quantity demanded and the market would clear
- Price $40- 35 30- 25 20 15 10- 5 100 200 300 400 500 600 700 800 Quantity Refer to the Figure 4-2. What are the equilibrium price and quantity? O a. $15 and 200 b. $15 and 600 O c. $25 and 400 O d. $35 and 200A new government subsidy paid to the producers of butter would Select one: O a. have no effect on the supply of butter O b. shift the supply curve to the left. O c. reduce the supply of butter. O d. shift the supply curve to the right.Suppose an economic boom causes incomes to increase and, at the same time, drives up wages for the sales representatives who work for cell phone companies. Assume that smartphones are a normal good. This will cause the: O price of cell phones and the equilibrium quantity to rise. O price of cell phones to rise, but the change in the equilibrium quantity is unclear and depends on whether the shift in demand is larger or smaller than the shift in supply. O price of cell phones and the equilibrium quantity to fall. O quantity of cell phones to rise, but the change in the equilibrium price is unclear and depends on whether the shift in demand is larger or smaller than the shift in supply.
- Question 35 To construct a market demand curve, for each unit of quantity, find the highest price a person in the market is willing to pay for that unit. O for each price, add up how many units each person in the market is able and willing to buy at that price. for each price, add up how many units people would want to buy at that price regardless of ability to pay. for each unit of quantity, add up how much each person in the market wants to pay for that unit.The demand for a given good will decrease when the price of its substitute and the demand for a given good also decreases when the price of its complement Select one: O a. None of the provided answers are correct O b. rises; rises O c. falls; falls O d. falls; rises Assume a demand curve for coffee; Which of the following would NOT shift the demand curve for coffee? Select one: O a. an increase in wages O b. a decrease in the price of tea O c. price of coffee changes O d. a change in taste for teales of Macroeconomics - Spring21 Which of the following statements is CORRECT? Select one: O a. A change in the quantity demanded means a shift in the demand curve. O b. Achange in demand means a movement along the demand curve. O c. Achange in demand and change in quantity demanded means the same thing. O d. Achange in demand means a shift in the demand curve while change in the quantity demanded means a movement along the demand curve. NEXT PAGE