Denny buys a rare coin for $200 and sells the coin one year later for $220. Denny's rate of return is:
A. 10 percent.
B. 20 percent.
C. 91 percent.
D. 110 percent.
A. 10 percent.
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According to your authors, a necessary condition for the evolution of a successful commercial society includes
A) stable interest rates. B) reasonably secure property rights. C) a superabundance of natural resources. D) zero economic losses.
The figure above shows the market for annual influenza immunizations the United States. If the government does not intervene in this market, deadweight loss equals ________
A) $350 million B) $250 million C) $500 million D) $600 million E) $37.5 million
Refer to Figure 11-4. Which of the following combinations of points illustrates changes in the Soviet Union's economy from 1950 to 1980?
A) A to B to C B) B to D C) B to E D) E to B
A decrease in supply, with no change in demand, will lead to ________ in equilibrium quantity and ________ in equilibrium price.
A) an increase; an increase B) an increase; a decrease C) a decrease; an increase D) a decrease; a decrease