The Islamic country that is attracting attention because of its rapid growth:
a. Egypt
b. Iran
c. Pakistan
d. Turkey
e. None of the above
D
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The slope of the saving function is the
A) APC. B) MPC. C) APS. D) MPS.
"Currency appreciation" means the price of the currency is decreasing
Indicate whether the statement is true or false
If an exhaustible resource is priced at marginal cost that remains constant over time, then
A) all owners of that resource earn rent. B) the price will stay constant over time. C) the percent price increase each year equals the rate of interest. D) the good is relatively scarce.
Suppose milk and cereal are compliments and the demand for milk is Qdm = 40 - 6Pm - 2Pc, where Qdm stands for millions of gallons of milk demanded, Pm stands for the price of milk and Pc stands for the price of cereal. The supply of milk is Qsm = 6Pm - 8, where Qsm stands for millions of gallons of milk supplied. The demand and supply of cereal are Qdc = 90 - 5Pc - Pm and Qsc = 5Pc - 10, respectively, where Qdc stands for millions of boxes of cereal demanded and Qsc stands for millions of boxes of cereal supplied. Suppose the government imposes a $2.00 per gallon tax on milk. In the new general equilibrium:
A. consumers purchase more milk and more cereal. B. consumers purchase less milk and less cereal. C. consumers purchase more milk and less cereal. D. consumers purchase less milk and more cereal.