Assets which include foreign currencies and gold certificates that central banks use to maintain exchange rates in a predetermined range are called:
A) reserve assets.
B) tangible assets.
C) bank assets.
D) discretionary assets.
A
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Is increased production of a good beneficial to society?
a. Yes, because scarcity is such an overriding concern. b. Yes, because more is always better. c. Maybe, it depends on what is foregone. d. No, because increased production does not increase utility.
Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential
Use the figure below to answer the following question.
If the output level is Q2, then producer surplus is
A. ac0. B. bce. C. 0eQ1. D. 0ecd.
Exhibit 4-10 Supply and demand data for apricots Bushels demandedper month Price perbushel Bushels suppliedper month 50 $5 80 55 4 75 60 3 70 65 2 65 70 1 55 Which of the following would occur if the government sets a price floor of $4 in the market shown in Exhibit 4-10?
A. There would be a shortage of apricots. B. Buyers would not purchase all of the apricots that are grown. C. Buyers would purchase more apricots than are currently being supplied. D. Farmers would reduce the number of acres allocated to the growing of apricots.