An increase in the price of milk, an input in the production of cheese, will _________ the supply of cheese. 1 pointIncreaseNot changeWe can’t sayDecrease

Question 4A decrease in the price of butter will _________ the demand for margarine, a substitute for butter.1 pointNot changeWe can’t sayIncreaseDecrease

Which of these results in an increase in both price and quantity?A.A demand increaseB.A supply increaseC.A demand decreaseD.A supply decrease

If buyers’ value for bicycles decrease ,the demand curve for bicycles will ______.1 pointShift to the leftNot changeWe can’t sayShift to the right

If the price elasticity of supply for a product is 2, a price increase from $1.00 to $1.20 will cause the quantity supplied to:

An increase in government spending will result in an increase in the price level and an increase in real GDP in the long run.Question 45Answera.Trueb.False