Refer to the domestic production possibilities curve for Karalex. The gain to Karalex from specialization and international trade is represented by a move from:
A. A to B.
B. C to A.
C. C to D.
D. B to E.
D. B to E.
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The figure above shows the demand and supply of dollars in the foreign exchange market. At a price of 2.40 Brazilian reals per dollar
A) there will be a shortage of dollars. B) $40 billion dollars will be demanded. C) $40 billion dollars will be supplied. D) there will be a surplus of dollars.
In general, the amount people pay for insurance is:
A. lower than its expected value. B. higher than its expected value. C. higher than its future value. D. lower than its present value.
Suppose the demand for hard-wood flooring increases, while the demand for wall-to-wall carpeting decreases. Based on this change in consumer tastes, the demand for hard-wood-flooring factory workers in North Carolina increases, while the demand for carpet factory workers in Georgia decreases. This is an example of
a. frictional unemployment created by efficiency wages. b. structural unemployment created by efficiency wages. c. frictional unemployment created by sectoral shifts. d. structural unemployment created by sectoral shifts.
Refer to the diagram. The area that identifies the maximum sum of consumer surplus and producer surplus is:
A. a + b + c + d + e + f.
B. c + d + f.
C. a + b + e.
D. a + b + c + d.