The government purchases multiplier is defined as
A) .
B) .
C) .
D) .
Answer: A
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Suppose that, a country with a closed economy opens itself to international trade and becomes a net exporter. In that case, the price of that good will ________ when the economy goes from closed to open for trade.
A. increase B. decrease C. first decrease then increase D. stay the same
Marginal benefit
A) increases as more of a good is consumed. B) decreases as more of a good is consumed. C) is the total benefit from all units consumed. D) is constant as more of a good is consumed. E) is the gain to the producer of producing and selling one more unit of a good.
Suppose the equilibrium price for soft drinks is $1.00. If the current price in the soft drink market is $1.25 each
A) there will be a surplus of soft drinks. B) there will be a shortage of soft drinks. C) the supply curve of soft drinks will shift leftward. D) the demand curve for soft drinks will shift leftward.
If the quantity of soccer balls demanded is represented by the demand equation QD = 80 - 2P, then to solve for the price of soccer balls, the equation would be rewritten as
A) P = 40 - 0.5QD. B) P = 1.6QD + 80. C) P = 80 - QD. D) P = QD + 160.