As the use of DVDs becomes more widespread, we would expect all of the following except one. Which is the exception?
a. The prices of CDs will decrease.
b. The demand curve for CD players will shift leftward.
c. The supply curve of CD players will shift rightward.
d. The demand curve for CDs will shift leftward.
e. Firms will move their resources away from CD production to DVD production.
C
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A major U.S. motive for negotiating a free-trade agreement with Mexico was to
a. help foster the study of the Spanish language as a means to trading with all Spanish-speaking countries b. increase immigration into the United States c. gain increased access to Mexican consumers d. keep Mexico from going Communist e. achieve, ultimately, political union with Mexico
In an economy in which velocity of money in circulation is constant and real output grows at an average rate of 3 percent per year, a 5 percent average rate of growth in the money supply would result in a: a. constant price level
b. slowly increasing price level. c. slowly decreasing price level. d. stable 4 percent growth in real GDP. e. stable 4 percent growth in nominal GDP.