Which of the following would not cause the market supply of cell phones to change?
A.) Telecommunications are deregulated, and anyone can produce and sell cell phones.
B.) A cheaper technology for producing cell phones is developed.
C.) A reduction in the demand for cell phones causes the price to fall.
D.) Taxes levied on cell phone production are reduced.
C.) A reduction in the demand for cell phones causes the price to fall.
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Refer to Table 15-2. Consider the hypothetical information in the table above for potential real GDP, real GDP, and the price level in 2016 and in 2017 if the Federal Reserve does not use monetary policy
If the Fed wants to keep real GDP at its potential level in 2017, it should A) increase income taxes. B) sell Treasury securities. C) increase the required reserve ratio. D) buy Treasury securities.
In economics, products are considered "differentiated" only if
a. they are physically or chemically different b. sellers decide that they are different c. buyers think that they are different d. the government determines that they are different e. they are produced by different firms