Which curve shown below represents the market supply given the following individual supply tables?
PriceS1S2S33060156040702080508025100609030120
A. A
B. B
C. C
D. D
Answer: C
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Suppose a nation opens up to free trade and becomes an exporter of goods. Which of the following is then true of this nation?
A) The nation as a whole suffers losses. B) Sellers gain. C) Buyers gain. D) Both buyers and sellers gain.
A major disruption in financial markets characterized by sharp declines in asset prices and firm failures is called a
A) financial crisis. B) fiscal imbalance. C) free-rider problem. D) "lemons" problem.
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A major problem in projecting with a trend line is that
A) only straight-line projections can be accommodated. B) it is valid only if the trend is upward. C) it will not forecast turning points in activity. D) it is a very complex method of forecasting.