The above figure shows four different markets with changes in either the supply curve or the demand curve
Assuming coffee and tea are substitutes, which graph best illustrates the market for tea after severe weather destroys a large portion of the coffee crop? A) Graph A
B) Graph B
C) Graph C
D) Graph D
A
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If net taxes exceed government expenditures, the government sector has a budget ________ and government saving is ________
A) surplus; positive B) surplus; negative C) deficit; positive D) deficit; negative
Which of the following statements is true about Tyson Foods, Inc?
a. The company has faced synchronized movements in the prices of its inputs in the recent past. b. Tyson has been able to keep its chicken prices more or less stable over the last five years because the prices of its major inputs have not fluctuated too much. c. The company restructured itself to deal with the more complex risks associated with the business today. d. Tyson assigned responsibilities of risk management to employees familiar with the different commodities it handled in order to establish a self-contained unit.
Representative money is
a. accepted on faith. b. found in M1 and M2 money measures. c. today in the form of check able deposits. d. redeemable for a commodity.
According to empirical observations, the cost of restricting international trade in the U.S. is much greater than the benefits generated from restriction. In the light of the above observation, which of the following statements is true?
a. The benefits of protecting domestic jobs typically outweigh the costs. b. Consumers end up paying much more for the goods they buy in order to subsidize the relatively inefficient domestic producer. c. U.S. GDP would be over $14 billion higher with import restrictions than without restrictions. d. Protection of the U.S. textile and sugar industries means that all consumers pay a lower price for clothing and sugar. e. Protection of the domestic industries enable the producers to charge lower prices for their products.