Over time, the equilibrium price of a gigabyte of computer memory has fallen while the equilibrium quantity purchased has increased. Based on this we can conclude that:
A. decreases in the demand for computer memory have exceeded increases in supply.
B. increases in the supply of computer memory have exceeded increases in demand.
C. increases in the demand for computer memory have exceeded increases in supply.
D. decreases in the supply of computer memory have exceeded increases in demand.
Answer: B
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Which of the following most accurately describes the changes in the heights of adult, white males?
a. Since 1700, heights have increased steadily. b. There were small cyclical changes in height until about 1900, and since then heights have increased very rapidly. c. During the history of the US heights have been relatively constant. d. Height increased substantially until shortly after the Civil War, and has been relatively stable since then.
Market structure
a. has no influence on a firm's decision making b. applies only to industries regulated by the government c. is determined entirely by demand conditions in the industry d. influences the forms of competition among firms e. does not affect product price or quantity of output