This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Prices of smartphones (assume that this is a normal good) have fallen in recent years. Over this ... (Read 140 times)

Ebrown

  • Hero Member
  • *****
  • Posts: 567
on: Jun 29, 2018
Prices of smartphones (assume that this is a normal good) have fallen in recent years. Over this same period, the price of the components used to produce smartphones has also fallen and consumer incomes have risen.
 
  Which of the following best explains the falling prices of smartphones?
  A) The supply curve for smartphones has shifted to the right while the demand curve for smartphones has shifted to the left.
  B) The supply curve for smartphones has shifted to the right more than the demand curve has shifted to the right.
  C) The demand curve and the supply curve for smartphones have both shifted to the left.
  D) The demand curve for smartphones has shifted to the right more than the supply curve has shifted to the right.

Question 2

What is the difference between fiscal policy and monetary policy?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

LVPMS

  • Sr. Member
  • ****
  • Posts: 323
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

Fiscal policy involves changes in federal taxes and purchases and is implemented by Congress and the President. Monetary policy involves changes in the money supply and interest rates and is implemented by the Federal Reserve. Both are intended to achieve macroeconomic objectives.


Ebrown

  • Member
  • Posts: 567
Reply 2 on: Jun 29, 2018
Gracias!

aliotak

  • Member
  • Posts: 326
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

The average older adult in the United States takes five prescription drugs per day. Half of these drugs contain a sedative. Alcohol should therefore be avoided by most senior citizens because of the dangerous interactions between alcohol and sedatives.

Did you know?

There are over 65,000 known species of protozoa. About 10,000 species are parasitic.

Did you know?

Egg cells are about the size of a grain of sand. They are formed inside of a female's ovaries before she is even born.

Did you know?

The first oncogene was discovered in 1970 and was termed SRC (pronounced "SARK").

Did you know?

Lower drug doses for elderly patients should be used first, with titrations of the dose as tolerated to prevent unwanted drug-related pharmacodynamic effects.

Summation of Heart Sounds, Normal Physiological Split of S2 Summation of Heart Sounds, Normal Physiological Split of S2
The anatomical distortion of the structure of RBCs in sickle cell anemia affects its normal function ... The anatomical distortion of the structure of RBCs in sickle cell anemia affects its normal function ...
Diagram of the heart showing normal conduction pathway. Diagram of the heart showing normal conduction pathway.
How to find the tangential and normal components of a vector How to find the tangential and normal components of a vector
Normal heart valves Normal heart valves
Action of FMRP protein in normal and fragile-X cells Action of FMRP protein in normal and fragile-X cells
Video: Wound Repair Animation

For a complete list of videos, visit our video library