« previous next »

Author Question: If the price of tennis rackets were to increase, we would expect: a. the demand for tennis balls to ... (Read 97 times)

biggirl4568

  • Hero Member
  • *****
  • Posts: 551
on: Jun 30, 2018
If the price of tennis rackets were to increase, we would expect:
 a. the demand for tennis balls to increase.
 b. the demand for tennis balls to decrease.
 c. the supply of tennis balls to increase, leading to a movement along the demand curve for tennis balls.
  d. the supply of tennis balls to decrease.

Question 2

Starting from long run equilibrium, in response to a decrease in AD:
 a. The price level will increase more in the long run than in the short run.
 b. The short run equilibrium level of real output will be greater in the long run than in the short run.
  c. Neither the price level nor real output will change in the long run.
 d. Both a. and b. are correct


Mochi

  • Sr. Member
  • ****
  • Posts: 300
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

b


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Illness; diuretics; laxative abuse; hot weather; exercise; sweating; caffeine; alcoholic beverages; starvation diets; inadequate carbohydrate consumption; and diets high in protein, salt, or fiber can cause people to become dehydrated.

Did you know?

Automated pill dispensing systems have alarms to alert patients when the correct dosing time has arrived. Most systems work with many varieties of medications, so patients who are taking a variety of drugs can still be in control of their dose regimen.

Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

Did you know?

Malaria was not eliminated in the United States until 1951. The term eliminated means that no new cases arise in a country for 3 years.

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

China’s 8% annual increase in oil consumption China’s 8% annual increase in oil consumption
The Head Start program was designed to increase the school readiness of low-income children. The Head Start program was designed to increase the school readiness of low-income children.
Greenhouse gases increase in the stratosphere Greenhouse gases increase in the stratosphere
Increase in Surface Area by Mechanical Weathering Increase in Surface Area by Mechanical Weathering
Increase in total spending in presidential campaigns, 1976-2020 Increase in total spending in presidential campaigns, 1976-2020
Tennis Tennis
Video: Primary and secondary response to infection

For a complete list of videos, visit our video library