In a supply and demand figure, the equilibrium price and quantity are found at the
A) point where quantity supplied equals quantity demanded.
B) horizontal intercept of the demand curve.
C) vertical intercept of the supply curve.
D) horizontal intercept of the supply and the demand curves.
A
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A quota is
A) a government-imposed restriction on the quantity of a specific good that can be imported into a country. B) a tariff imposed on goods that are dumped into the home country. C) a tariff imposed on goods that are subsidized by their domestic governments and exported to other countries. D) a tariff based on the value of the imported good.
In recent decades, a primary source of long-run growth in U.S. output has been:
A. Increased capacity utilization. B. A reduction in structural unemployment. C. Increased output per worker. D. Rapid growth of the money supply.
If a goldsmith had 200 gold coins in his safe, and there were 400 gold coins and 400 goldsmith's receipts circulating, (a) how much is his reserve ratio; (b) how much is the money supply?
Fill in the blank(s) with the appropriate word(s).
A basic assumption in comparing the production possibilities curves of two nations is that those possibilities curves reflect differences in:
A. Consumer tastes and preferences B. Resource availability and technological capabilities C. The nations' incomes and income distribution D. Unemployment and inflation rates