The gains from free trade are enjoyed by a ________ number of people and the costs of free trade are imposed by ________ number of people
A) small; large
B) large; small
C) small; small
D) large; large
B
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The above figure shows the domestic market for tomatoes. Suppose this market is isolated from global competition and there is a support price set at $16. In this figure, what area equals the producer surplus?
A) area A + area B + area C B) area A + area F C) area B + area C + area D + area F D) area C + area D + area E + area G E) area F
When comparing the velocity of M2 (V2), with the velocity of M1 (V1), the evidence shows that V2 has been __________ and V1 has been __________ over time
A) relatively stable; relatively stable B) relatively stable; relatively unstable C) relatively unstable; relatively stable D) relatively unstable; relatively unstable
The sale of western lands failed in its purpose because of corruption
Indicate whether the statement is true or false
Betty's Bagels makes and sells bagels from their local bakery. If Betty's Bagels become more popular with local residents and the probability of selling additional bagels increases, Betty's expected marginal benefit curve from holding additional bagels in inventory will shift to the ________ and the profit-maximizing number of bagels to hold in inventory will ________.
A) right; decrease B) left; increase C) left; decrease D) right; increase