A plastics manufacturer can make either toys or containers. If the demand for toys increases, then the:
a. Supply of containers will decrease
b. Supply of containers will increase
c. Demand for containers will decrease
d. Demand for containers will increase
a. Supply of containers will decrease
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When a firm faces a horizontal demand curve,
A. the marginal cost curve is upward sloping. B. the market price is also the firm’s marginal revenue. C. the market demand curve is also a horizontal line at the market price. D. entry by new firms is unlikely.
The central bank of Vervia buys and sells government bonds to alter the level of money supply in the country. This method of controlling the money supply is known as: a. crowding out
b. forward guidance. c. open market operations. d. quantitative easing.
Money is
a. valuable because it is backed by gold. b. whatever is generally accepted in exchange for goods and services. c. anything that is a liability of a commercial bank d. an object to be consumed.
What role does population growth play in economic development?
What will be an ideal response?