USU-Intro To MacroEcon - Assignment 1

An inc reas e in the number of c omputer manufac

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Unformatted text preview: inc reas e in the number of c omputer manufac turers , other things equal 4. A requirement by univers ities that all s tudents buy pers onal c omputers 5. A reduc tion in the pric e of pers onal c omputers , other things equal Que stion 17 (1 point) The law of s upply 1. as s erts that as the pric e of a good or s ervic e ris es , the demand c urve s hifts inward. 2. as s erts that as the pric e of a good or s ervic e ris es , the quantity s upplied ris es . 3. has very little to do with how pric es in a mark et-bas ed ec onomy are determined. 4. as s erts that as the pric e of a good or s ervic e ris es , the quantity s upplied dec lines . 5. while valid, is almos t alway s ignored in a mark et-bas ed ec onomy . Que stion 18 (1 point) As s ume a revolutionary tec hnologic al advanc e is dis c overed in the produc tion proc es s of automobiles by Ford Motor Company engineers . W hic h of the following events would y ou ex pec t to happen? 1. A movement up along an ex is ting s upply c urve for Ford automobiles . 2....
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