The low-rate loans that are to be repaid within ten years seem to be a form of ________ as they shift the International Monetary Fund to a role as a development organization.
A. mission creep
B. tequila effect
C. stand-by arrangements
D. moral hazard
Answer: A
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Any improvement in overall production technology that permits more output to be produced with the same level of inputs causes
A) a movement up the supply curve resulting in both a higher equilibrium price and quantity. B) a rightward shift of the supply curve so that more is offered at each price. C) no movement of the supply curve, but a fall in price and a decrease in quantity supplied. D) a leftward shift of the supply curve so that less is offered for sale at each price.
The market demand function for wheat is Qd = 10 - 2P and the market supply function is Qs = 4P - 2, both measured in billions of bushels per year. Suppose the government wants to increase the price of wheat to $3/bushel and they impose a voluntary production reduction program to achieve their goal. What is the size of the aggregate surplus?
A. $4 billion B. $12 billion C. $10 billion D. $6 billion
After 1896 the majority of immigrants to the U.S. were from
a. Great Britain and Ireland. b. Scandinavia. c. Central, Eastern and Southern Europe. d. Germany.
According to the graph shown, if this economy were to open to trade, domestic prices would:
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
A. remain $14 for domestically produced goods, and be $10 for those units imported.
B. drop to $10 for all units.
C. remain $14, with more units sold overall.
D. increase to $17 for all units sold.