If the public decides to hold less currency and more deposits in banks, bank reserves
a. decrease and the money supply eventually decreases.
b. decrease but the money supply does not change.
c. increase and the money supply eventually increases.
d. increase but the money supply does not change.
C
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The table below shows the hourly output per worker in two industries in Chile and Argentina. Use this table to answer the following questions.
a. ___________has an absolute advantage in the production of?hats, and _______________has an absolute advantage in the production of beer. b. ____________ has a comparative advantage in the production of? hats, and____________ has a comparative advantage in the production of beer. c. Suppose that Chile and Argentina currently do not trade with each other. Each has? 1,000 hours of labor to use for producing hats and? beer, and the countries are currently producing the amounts of each good shown in the table below. Using this? information, give a numerical example of how Chile and Argentina can both gain from complete specialization and trade. Assume that after trading? begins, one hat can be exchanged for one barrel of beer. Hats beer chile 9000 600 Argentina 600 800 Complete the table below. The table represents the amount of hats and beer after trading for each country hats beer chile ________ 600 Argentina 600 _______
The table above shows the total utility from the two goods Freddy likes to consume. Suppose that Freddy has already eaten 5 bags of Fritos. If he consumes one more bag, his marginal utility will
A) equal 40. B) equal 35. C) equal 15. D) depend on the price of the extra bag.
Suppose a monopolistically competitive firm sells 25 units at a price of $10. Calculate its marginal revenue per unit of output if it sells 5 more units of output when it reduced its price to $9
A) $270 B) $20 C) $4 D) $2.50
In long-run equilibrium under perfect competition a. price will equal minimum average fixed cost
b. firms will earn economic profits due to the existence of barriers to entry. c. the demand curve facing individual firms will fall to the level tangent to the minimum average total cost curve. d. firms will produce at the level of output where marginal revenue exceeds marginal cost by the greatest dollar amount.