Question : 117) Buyers scrambled to secure stocks of Australian wool following : 1387372

 

 

117) Buyers scrambled to secure stocks of Australian wool following a forecast of an 11 percent decline in wool production. What happens in the Australian wool market as a result of this announcement?

A) The demand curve for Australian wool shifts to the left in anticipation of higher prices in the future.

B) The demand curve for Australian wool shifts to the right in anticipation of higher prices in the future.

C) The quantity of Australian wool demanded increases in anticipation of higher prices in the future.

D) The quantity of Australian wool demanded decreases in anticipation of lower quantities in the future.

 

118) Factory incentives on cell phones have encouraged consumers to upgrade their phones. How does this affect the market for bluetooth headsets?

A) The quantity of bluetooth headsets demanded increases.

B) The quantity of bluetooth headsets demanded decreases.

C) The demand for bluetooth headsets increases.

D) The demand for bluetooth headsets decreases.

 

 

119) In January, buyers of gold expect that the price of gold will fall in February. What happens in the gold market in January, holding everything else constant?

A) The demand curve shifts to the right.

B) The quantity demanded increases.

C) The quantity demanded decreases

D) The demand curve shifts to the left.

 

 

120) In September, buyers of silver expect that the price of silver will rise in October. What happens in the silver market in September, holding all else constant?

A) The quantity demanded decreases.

B) The demand curve shifts to the left.

C) The demand curve shifts to the right.

D) The quantity demanded increases.

 

 

121) If tablet computers are considered substitutes for e-readers, the increase in the price of tablet computers would, all else equal,

A) increase the demand for e-readers.

B) decrease the demand for e-readers.

C) increase the quantity of e-readers demanded.

D) decrease the quantity of e-readers demanded.

 

122) If tablet computers are considered substitutes for e-readers, the decline in the price of e-readers would, all else equal,

A) increase the demand for tablet computers.

B) decrease the demand for tablet computers.

C) increase the quantity of tablet computers demanded.

D) decrease the quantity of tablet computers demanded.

 

 

123) The demand for soft drinks in the United States has been ________ while the global demand has been ________.

A) increasing; increasing

B) increasing; decreasing

C) decreasing; increasing

D) decreasing; decreasing

 

 

124) Apple’s decision in 2002 to focus on developing a smartphone rather than a tablet computer exemplifies the

A) refusal of firms to invest in more than one project where unlimited resources are involved.

B) refusal of firms to invest in more than one project where limited resources are involved.

C) trade-off that firms face due to unlimited resources.

D) trade-off that firms face due to limited resources.

 

 

 

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