Of the collection of supply and demand diagrams in Figure 2.2, which one(s) show the result of an increase in the expected future price?
A. Figure 1
B. Figure 4
C. Figures 2 and 3
D. Figures 1 and 4
Answer: D
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Retained earnings are corporate earnings that are paid as dividends to stockholders
Indicate whether the statement is true or false
Which of the following describes the "invention" of banking?
A) Clergy in the Renaissance created the banking system to help further the growth of the church. B) Goldsmiths in the sixteenth century issued gold receipts which entitled its owners to reclaim their gold on demand. C) The United States government founded the Federal Reserve in 1913. D) The British Empire created a banking system to fund its exploration of the New World. E) Members of the New York Stock Exchange founded the Bank of America in the 1700s.
Refer to Figure 2-5. If the economy is currently producing at point W, what is the opportunity cost of moving to point Y?
A) 2 million tons of paper B) 14 million tons of steel C) 9 million tons of paper D) 2 million tons of steel
Economists have found evidence that differences in wages can be explained by
a. experience b. job characteristics c. physical attractiveness d. All of the above are correct.