A decrease in supply will cause an increase in price, which will cause a decrease in quantity demanded
a. True
b. False
Indicate whether the statement is true or false
True
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If a French company sells 1000 gallons of Perrier to a U.S. company at 5 euros per gallon, and uses the money to buy stock in a Spanish cork company, how does this affect the French balance of payments accounts?
A) Decrease in financial account; increase in merchandise trade B) Decrease in merchandise trade; increase in financial account C) Decrease in net investment income from abroad; increase in financial account D) Decrease in merchandise trade; increase in net income from abroad
In the 1970s, the U.S. experienced stagflation. What is stagflation?
a. Low inflation and low unemployment b. Low inflation and high unemployment c. High inflation and high unemployment d. High inflation and low unemployment
A lighthouse is typically considered to be a public good because
a. the owner of the lighthouse is able to exclude beneficiaries from enjoying the lighthouse. b. there is rarely another lighthouse nearby to provide competition. c. a nearby port authority cannot avoid paying fees to the lighthouse owner. d. all passing ships are able to enjoy the benefits of the lighthouse without paying.
Refer to the accompanying table. Corey's opportunity cost of delivering of a pizza is making: Pizzas Made Per HourPizzas Delivered Per HourCorey126Pat1015
A. 6 pizzas. B. 1/2 of a pizza. C. 2 pizzas. D. 12 pizzas.