Author Question: Suppose we observe that both the equilibrium price of digital cameras and the equilibrium quantity ... (Read 107 times)

mydiamond · **on:** Jun 29, 2018

Suppose we observe that both the equilibrium price of digital cameras and the equilibrium quantity of digital cameras have increased. Which of the following events could be responsible for this?

A) technological advances in digital camera production
B) consumers' preferences changed in favor of digital cameras
C) the price of film cameras fell
D) workers who make digital cameras received a pay raise

Question 2

________ economists believe that active help from fiscal and monetary policy is needed to insure that the economy is operating at full employment.

A) Keynesian
B) Monetarist
C) Classical
D) All