The demand curve
A. Is a graphical representation of the relationship between price and quantity demanded.
B. Determines equilibrium price in a market.
C. Depicts the relationship between production costs and output.
D. Is a graphical representation of the relationship between price and quantity supplied
Ans: A. Is a graphical representation of the relationship between price and quantity demanded.
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The opening of export markets for primary products can provide employment for previously underutilized land and labor. The term for this is
(a) vent for surplus. (b) comparative advantage. (c) Prebisch-Singer thesis. (d) barter trade.
The government of a small open economy announces a tax cut of $100 this year, combined with a tax increase of $110 next year, when the interest rate is 10%
What are the effects of this change on the world real interest rate, national saving, investment, and the current account balance in equilibrium when (a) Ricardian equivalence holds? (b) Ricardian equivalence does not hold?
The federal funds rate is the interest rate:
a. The Federal Reserve changes banks that borrow from it. b. U.S. financial institutions charge their best customers. c. On U.S. interbank loans. d. Central banks charge individuals. e. U.S. financial institutions pay to their best (i.e., largest) depositors.
Pollution regulation by requiring firms to implement specific equipment or actions is known as ___________
a. Pigouvian or pollution taxes b. tradable pollution permits c. pollution standards d. technology-based regulations e. None of the above.