Event: The Economist publishes an article stating that the price of automobiles will skyrocket in the coming
Question:
-
Event: The Economist publishes an article stating that the price of automobiles will skyrocket in the coming months.
Question: What is the determinant of Supply?
a. None
b. Price of goods made with same resources
c. Technology
d. Price of inputs
e. Expectation of future price changes
f. Number of sellers
3 points
QUESTION 32
-
Market: Automobiles
Event: The Economist publishes an article stating that the price of automobiles will skyrocket in the coming months.
Question: What is the determinant of demand?
a. None
b. Consumer preferences
c. Price of related goods
d. Income of consumers
e. Expectation of future price changes
f. Number of buyers in the market
3 points
QUESTION 33
-
Market: Automobiles
Event: The Economist publishes an article stating that the price of automobiles will skyrocket in the coming months.
Question: What is the change in supply?
a. Increase
b. Decrease
c. No change
d. Indeterminate
3 points
QUESTION 34
-
Market: Automobiles
Event: The Economist publishes an article stating that the price of automobiles will skyrocket in the coming months.
Question: What is the change in demand?
a. Increase
b. Decrease
c. No change
d. Indeterminate
3 points
QUESTION 35
-
Market: Automobiles
Event: The Economist publishes an article stating that the price of automobiles will skyrocket in the coming months.
Question: What will the change in equilibrium price be?
a. Increase
b. Decrease
c. No change
d. Indeterminate
3 points
QUESTION 36
-
Market: Automobiles
Event: The Economist publishes an article stating that the price of automobiles will skyrocket in the coming months.
Question: What will the change in equilibrium quantity be?
a. Increase
b. Decrease
c. No change
d. Indeterminate
Business Communication Process and Product
ISBN: 978-0324542905
6th Edition
Authors: Mary Ellen Guffey