Velcro is becoming more and more popular for a variety of uses, including as fasteners for shoes. What should happen to the equilibrium price and quantity for shoelaces as a result?
a. Both price and quantity will increase.
b. Both price and quantity will decrease.
c. Price will increase and quantity decrease.
d. Price will decrease and quantity increase.
e. Nothing.
B
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The slope of the line in the above figure is
A) 8. B) 0.05. C) 0.125. D) 0.10.
If the Fed has the discretion to choose its policy and announces a low inflation policy, then
a. the public is likely to discount this claim because the Fed has an incentive to change their policy in the future. b. the public is likely to believe this claim because the Fed has no incentive to change their policy in the future. c. the Fed will always cheat and increase inflation in the future. d. the Fed will have to keep inflation lower in the future or they will be voted out of office. e. none of the above.