02 May Question: Question 1 0.4 pts When two goods are unrelated then O cross-price elasticity of demand will be i…
Question 1 0.4 pts When two goods are unrelated then O cross-price elasticity of demand will be infinite O cross-price elasticity of demand will be zero O cross-price elasticity of demand will be positive. O the demand for both goods will be elastic. O cross-price elasticity of demand will be negative. Question 2 0.4 pts When an individual chooses to act, he or she is said to be motivated by O indifference O incentives. disincentives. O ambivalence. scarcity Question 3 0.4 pts Which scenario represents economic contraction? O straightening of the curve of the PPF O downward movement along the PPF an outward shift of the PPF upward movement along the PPF an inward shift of the PPF
Question 4 0.4 pts A “twofold” change is when supply and demand both shift. O equilibrium price and equilibrium quantity both change O the equilibrium price of both a complement and a substitute changes. some input costs go up and some go down come goes up and then it goes down Question 5 0.4 pts If the cross-price elasticity of demand between Good A and Good B is 2, the price of Good B increases, and the price elasticity of demand for Good B is elastic, we can expect to see a for Good A. change in the quantity demanded negative, one-for-one negative, infinite positive, small positive, zero O negative, large
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