Refer to Figure 3-4. At a price of $20, how many units will be supplied?
A) 400 B) 500 C) 600 D) 800
C
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Which of the following statements is consistent with the Coase theorem?
A. In the case of zero transaction costs, a property rights assignment (made by a court) will be undone if it benefits the relevant parties to undo it. B. In the case of zero transaction costs, the resource allocative outcome will be the same no matter who is assigned the property right. C. Taxes can do what property rights assignments cannot. D. The market can solve all negative externality problems. E. a and b
If the social benefit is greater than the private benefit in a particular market, then the socially optimal equilibrium will be at a quantity:
A. greater than the private level. B. equal to the private level. C. less than the private level. D. greater than or less than the private level, depending on the size of the external costs.
Assume that foreign capital flows into a nation rise due to expected increases in stock market appreciation. If the nation has highly mobile international capital markets and a fixed exchange rate system, what happens to the current international transactions balanceand monetary base in the context of the Three-Sector-Model? a. The current international transactionsbalance becomes more positive
(less negative) and monetary base rises. b. The current international transactionsbalance becomes more negative (less positive) falls and monetary base falls. c. The current international transactionsbalance becomes more negative (less positive) and monetary base rises. d. The current international transactionsbalance and monetary base remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
If the price of a good falls by 10% and the percentage increase in the total amount consumers spend on the good is 5%, then the good is
A. elastic. B. inelastic. C. perfectly inelastic. D. unit elastic.