Suppose that a product benefits from a successful advertising campaign. The result is that
A) the supply of the product decreases. B) the supply of the product increases.
C) the demand for the product increases. D) the demand for the product decreases.
C
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Why does the production possibility frontier have a negative slope?
What will be an ideal response?
Suppose there are 20 competitive firms in a market. The supply curve of each firm is q = 2p. The market demand is Q = 200 - 2p. What is the residual demand curve facing a typical firm?
What will be an ideal response?
Very high inflation can arise when huge budget deficits are financed by the government printing its domestic currency. Which country experienced inflation of several million percent in 2008 as a result of this problem?
a. Myanmar b. Ukraine c. Zimbabwe d. Belarus
Creditors require collateral in many cases, because
A. the loan is small. B. the borrower is a low risk. C. it helps offset the risks of lending the funds. D. none of these.