Study Guide for Mankiw's Brief Principles of Macroeconomics, 7th
7th Edition
ISBN: 9781285864266
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Question
Chapter 4, Problem 3QCMC
To determine
Change in price of substitute and its effect on the demand curve.
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Movie tickets and DVDs are substitutes. If the priceof DVDs increases, what happens in the market formovie tickets?a. The supply curve shifts to the left.b. The supply curve shifts to the right.c. The demand curve shifts to the left.d. The demand curve shifts to the right.
Consider the market for gas-guzzling cars, if the price of gasoline falls. Graph and and answer the following:
Change in Demand
a. Increase
b. Decrease
c. Did not change
d. indeterminate
Change in supply
a. Increase
b. Decrease
c. Did not change
d. indeterminate
a. A change in the price of bicycles will lead to a shift of the demand curve for bicycles. T F b. A change in the price of automobiles will lead to a shift of the demand curve for motorcycles We call this shift a change in demandT F A change in demand is equivalent to a movement along a given demand curve. T F d. When price of a good decreases, the quantity demanded increases. TF
Chapter 4 Solutions
Study Guide for Mankiw's Brief Principles of Macroeconomics, 7th
Ch. 4.1 - Prob. 1QQCh. 4.2 - Prob. 2QQCh. 4.3 - Prob. 3QQCh. 4.4 - Prob. 4QQCh. 4 - Prob. 1QCMCCh. 4 - Prob. 2QCMCCh. 4 - Prob. 3QCMCCh. 4 - Prob. 4QCMCCh. 4 - Prob. 5QCMCCh. 4 - Prob. 6QCMC
Ch. 4 - Prob. 1QRCh. 4 - Prob. 2QRCh. 4 - Prob. 3QRCh. 4 - Prob. 4QRCh. 4 - Prob. 5QRCh. 4 - Prob. 6QRCh. 4 - Prob. 7QRCh. 4 - Prob. 8QRCh. 4 - Prob. 9QRCh. 4 - Prob. 1PACh. 4 - Prob. 2PACh. 4 - Consider the market for minivans. For each of the...Ch. 4 - Prob. 4PACh. 4 - Prob. 5PACh. 4 - Prob. 6PACh. 4 - Prob. 7PACh. 4 - Prob. 8PACh. 4 - Prob. 9PACh. 4 - Prob. 10PACh. 4 - Prob. 11PA
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