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ECN 211: Macroeconomic Principles (2024 Fall C)

Principles of Accounting II

Business Law

Introduction to Statistics

Strategic and Enterprenural Thinking

Suppose there is an increase in both the supply and demand for laptop computers. Furthermore, suppose the supply of laptops increases more than demand for laptops. In the market for laptops, we would expect the ________.

a. equilibrium quantity to rise and the equilibrium price to remain constant

b. equilibrium quantity to rise and the equilibrium price to rise

c. equilibrium quantity to rise and the change in the equilibrium price to be ambiguous

d. change in the equilibrium quantity to be ambiguous and the equilibrium price to fall

e. equilibrium quantity to rise and the equilibrium price to fall

e. equilibrium quantity to rise and the equilibrium price to fall...

Posted by Cleveland on August 30, 2024

Suppose there is an increase in both the supply and demand for laptop computers. In the market for laptops, we would expect the ________.

a. equilibrium quantity to rise and the equilibrium price to remain constant

b. equilibrium quantity to rise and the equilibrium price to rise

c. change in the equilibrium quantity to be ambiguous and the equilibrium price to rise

d. equilibrium quantity to rise and the equilibrium price to fall

e. equilibrium quantity to rise and the change in the equilibrium price to be ambiguous

e. equilibrium quantity to rise and the change in the equilibrium price to be ambiguous...

Posted by Cleveland on August 30, 2024

A decrease (leftward shift) in the supply for a good will tend to cause ________.

a. an increase in the equilibrium price and quantity

b. a decrease in the equilibrium price and quantity

c. an increase in the equilibrium price and a decrease in the equilibrium quantity

d. a decrease in the equilibrium price and an increase in the equilibrium quantity

e. none of the answer choices

c. an increase in the equilibrium price and a decrease in the equilibrium quantity...

Posted by Cleveland on August 30, 2024

An increase (rightward shift) in the demand for a good will tend to cause ________.

a. an increase in the equilibrium price and quantity

b. a decrease in the equilibrium price and quantity

c. an increase in the equilibrium price and a decrease in the equilibrium quantity

d. a decrease in the equilibrium price and an increase in the equilibrium quantity

e. none of the answer choices

a. an increase in the equilibrium price and quantity...

Posted by Cleveland on August 30, 2024

If the price of a good is equal to the equilibrium price, ________.

a. there is a surplus and the price will fall

b. there is a shortage and the price will fall

c. there is a surplus and the price will rise

d. there is a shortage and the price will rise

e. the quantity demanded is equal to the quantity supplied and the price remains unchanged

e. the quantity demanded is equal to the quantity supplied and the price remains unchanged...

Posted by Cleveland on August 30, 2024

If the price of a good is below the equilibrium price, ________.

a. there is a shortage and the price will fall

b. the quantity demanded is equal to the quantity supplied and the price remains unchanged

c. there is a surplus and the price will rise

d. there is a shortage and the price will rise

e. there is a surplus and the price will fall

d. there is a shortage and the price will rise...

Posted by Cleveland on August 30, 2024

If the price of a good is above the equilibrium price, ________.

a. there is a shortage and the price will fall

b. there is a surplus and the price will fall

c. there is a surplus and the price will rise

d. the quantity demanded is equal to the quantity supplied and the price remains unchanged

e. there is a shortage and the price will rise

there is a surplus and the price will fall...

Posted by Cleveland on August 30, 2024

All of the following shift the supply of smartphones to the right except ________.

a. an increase in the price of smartphones

b. an advance in the technology used to manufacture smartphone

c. a decrease in the wage of workers employed to manufacture smartphones

d. manufacturers' expectations of lower smartphone prices in the future

e. all of the answer choices cause an increase in the supply of smartphones

a. an increase in the price of smartphones...

Posted by Cleveland on August 30, 2024

Which of the following shifts the demand for pizza to the right?

a. A decrease in the price of pizza

b. A decrease in consumer incomes if pizza is a normal good

c. A decrease in the price of soda if soda and pizza are complements

d. An increase in the price of pizza

e. None of the answer choices

c. A decrease in the price of soda if soda and pizza are complements...

Posted by Cleveland on August 30, 2024

monopolistic market has ________.

a. only one seller

b. at least a few sellers

c. many buyers and sellers

d. firms that are price takers

e. none of the answer choices

a. only one seller...

Posted by Cleveland on August 30, 2024

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Questions and Answers (338 solutions)

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Economics

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Questions and Answers
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