Refer to the information provided in Figure 1.4 below to answer the question(s) that follow.
Figure 1.4Refer to Figure 1.4. Panel A shows a curve which has a slope that is
A. first negative, then zero, and then positive.
B. infinite throughout.
C. zero throughout.
D. first positive, then zero, and then negative.
Answer: A
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The more price elastic the demand curve, the more a competitive market will over-produce (relative to the efficient level) in the presence of a negative externality.
Answer the following statement true (T) or false (F)
If a new economics educator with a Ph.D. finds work as a taxi driver, but continues to look for a professorship, he is counted as employed
Indicate whether the statement is true or false
The National Bank Act
a. stemmed the credit expansion that banks generated by holding each other's deposits b. avoided wholesale shifts of deposits between city and country banks c. was instrumental in averting the 1907 Knickerbocker disaster d. helped to avoid financial panics and recessions e. tightened the money supply, but was by no means the banking industry's panacea
A U.S. bank wants to buy euros in order to buy German bonds. In the open-economy macroeconomic model, this transaction would be part of
a. the supply of currency in the foreign exchange market, and part of the supply of loanable funds. b. the demand for currency in the foreign exchange market, and part of the supply of loanable funds. c. the supply of currency in the foreign exchange market, and part of the demand for loanable funds. d. the demand for currency in the foreign exchange market, and part of the demand for loanable funds.