If the demand for bananas is elastic, then an increase in the price of bananas will
a. increase total revenue of banana sellers.
b. decrease total revenue of banana sellers.
c. not change total revenue of banana sellers.
d. There is not enough information to answer this question.
b
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If there are approximately 5,000 barrels of known reserves of oil, an estimated 7,500 barrels of unknown reserves of oil,
and annual consumption is 500 barrels of oil, approximately how many years will it be until the supply of oil is depleted, all else equal? A) 5 B) 10 C) 15 D) 25
The demand for dollars in the foreign exchange market will increase (so that the demand curve shifts rightward) if
A) the U.S. interest rate differential falls. B) the expected future exchange rate falls. C) the exchange rate for the dollar falls. D) None of the above answers is correct.
Describe how a sudden stop leads to a financial crisis
What will be an ideal response?
Which of the following is one of the most important causes for the recent increase in income inequality in China?
a. The introduction of free markets while imposing restrictions on internal migration b. The introduction of regulations that do not allow families to have more than one child c. Globalization d. The increase in pollution as a result of industrialization e. Tougher government controls on the banking system