In a market, to find the total amount supplied at a particular price, we must
a. sum the quantities that individual firms are willing and able to supply at that price.
b. calculate the average of the quantities that individual firms are willing and able to supply at that price.
c. sum the costs that individual firms incur to supply the product at that price.
d. account for all determinants of demand.
a
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The Japanese real interest rate declines relative to the German real interest rate. German net exports ________ and the German exchange rate ________
A) increase; rises B) increase; falls C) decrease; rises D) decrease; falls
A decrease in the economy’s capacity utilization rate
a. tends to decrease the unemployment rate. b. tends to increase the unemployment rate. c. has no impact on the unemployment rate. d. tends to have an unpredictable effect on the unemployment rate.
Briefly discuss the role of International Monetary Fund loans in international efforts to address financial crises. Why have these loans been controversial?
What will be an ideal response?
Which of the following generalizations is correct? Demand tends to be
A. relatively more inelastic for a product considered a necessity. B. relatively more inelastic when more substitutes are available for a product. C. relatively more inelastic the more time consumers have to respond to price changes. D. relatively more elastic when the price of a good or service, as a proportion of income, is smaller.