In the "cost of capital channel" of monetary policy, a higher interest rate __________ spending

Positive technological change in the production of LCD televisions caused the price of LCD televisions to fall. Holding everything else constant, how would this affect the market for Blu-ray players (a complement to LCD televisions)?

A) The demand for Blu-ray players would increase and the equilibrium price of Blu-ray players would decrease. B) The demand for Blu-ray players would decrease because consumers could afford to buy fewer LCD televisions and Blu-ray players. C) The demand for Blu-ray players would increase and the equilibrium price of Blu-ray players would increase. D) The supply of Blu-ray players would increase and the equilibrium price of Blu-ray players would decrease.

Suppose that the long-run world demand and supply elasticities of crude oil are -0.906 and 0.515, respectively

The current long-run equilibrium price is $30 per barrel and the equilibrium quantity is 16.88 billion barrels per year. a. Derive the (linear) long-run demand and supply equations. b. Suppose the long-run supply curve you derived above consists of competitive supply plus the quantity of OPEC supply. If the long-run competitive supply (not including OPEC's production) is: QS = 7.78 + 0.29p, what must be OPEC?s level of production in this long-run equilibrium to maintain the price of $30?