If the demand curve for computers increases:
a. More will be demanded at lower prices
b. Less will be purchased at each possible price
c. More will be demanded at the same prices
d. More will be purchased at each possible price
Answer: c. More will be demanded at the same prices
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Use the following table to answer the next question.YearUnemployment Rate (%)Inflation Rate (%)14.03.024.52.535.02.045.53.056.04.5Consider years 1, 2, and 3. Based on this data, the Phillips curve is ________.
A. upward sloping B. vertical C. of indeterminate slope D. downward sloping
When scarce goods are allocated according to some generally known criteria,
A) no one is discriminated against as long as the criteria are socially and legally accepted. B) people will compete to satisfy the criteria. C) rationing of scarce goods becomes unnecessary. D) surpluses almost inevitably appear.
For each pound of salami that Hungary produces, it gives up the opportunity to make 10 bottles of beer. Slovakia can produce 1 pound of salami for every 8 bottles of beer it produces
Which of the following is true about the comparative advantage between the two countries? A) Slovakia has the comparative advantage in beer. B) Hungary has the comparative advantage in beer. C) Hungary has the comparative advantage in salami. D) Slovakia has the comparative advantage in salami and beer.
In the simple deposit expansion model, if the banking system has excess reserves of $75, and the required reserve ratio is 20%, the potential expansion of checkable deposits is
A) $75. B) $750. C) $37.50. D) $375.