Author Question: The price of a smartphone increased from 350 to 400 while the price of a smartphone app increased ... (Read 48 times)

maegan_martin · **on:** Jun 29, 2018

The price of a smartphone increased from 350 to 400 while the price of a smartphone app increased from 1 to 2. The relative price of smartphones in terms of smartphone apps

A) increased from 200 to 350.
B) decreased from 350 to 200.
C) increased from 0.003 to 0.05.
D) decreased from 0.35 to 0.2.

Question 2

One topic of study for a microeconomist would be the

A) causes of inflation.
B) causes of a nation's unemployment level.
C) effects of a gasoline price increase on consumer behavior.
D) effects of an increase in government spending on overall economic activity.