When the price is $5
A. quantity supplied is greater than quantity demanded and, therefore, price must rise to get to equilibrium.
B. quantity supplied is greater than quantity demanded and, therefore, price must fall to get to equilibrium.
C. quantity demanded is greater than quantity supplied and, therefore, price must rise to get to equilibrium.
D. quantity demanded is greater than quantity supplied and, therefore, price must fall to get to equilibrium.
B. quantity supplied is greater than quantity demanded and, therefore, price must fall to get to equilibrium.
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Refer to the figure below. In this game, how many dominant strategies does Player A have?
A. 0 B. 4 C. 2 D. 1
Other things being equal, the effects of a decrease in the price of orange juice, is represented by which of the following?
a. A rightward shift in the demand curve for orange juice. b. An increase in the quantity demanded for orange juice. c. A leftward shift in the demand curve for orange juice. d. A decrease in the quantity demanded orange juice.
Which of the following statements is false?
a. A decrease in the reserve ratio does not change the monetary base. b. Purchases of foreign currency by the central bank increase the monetary base. c. Discount loans to banks decrease a nation's monetary base. d. All are false. e. All are true.
A country with a lower relative cost of production of a particular good has a(n) _______ advantage and it is likely to _______ this good.
A) absolute; import B) comparative; import C) comparative; export D) absolute; not export