Government restrictions on the use of an open-access resource
a. may improve efficiency
b. will decrease efficiency
c. are unnecessary
d. contribute to pollution of the resource
e. contribute to depletion of the resource
A
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In the above figure, the monopolistically competitive firm makes an economic profit of
A) $0. B) between $0 and $50 per day. C) between $50.01 and $100 per day. D) greater than $100.01 per day.
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.According to the graph shown, if this economy were to open to trade, which amount of surplus would be transferred?
A. Area BC would be transferred to the consumer. B. Area BC would be transferred to the producer. C. Area BCD would be transferred to the consumer. D. Area BCD would be transferred to the producer.
Jean Baptiste Say believed in all of the following EXCEPT that
A. Supply creates its own demand. B. People work so that they can save. C. Everything produced in an economy is sold. D. The normal state of economic affairs is full employment.
Which of the following will not shift the demand for the euro to the right?
A) an increase in interest rates in the European Union B) an increase in incomes in countries that buy goods from the European Union C) expectations among speculators that the price of the euro will rise in the future D) a decrease in the demand for European goods