Identify the international organization that makes loans to developing countries
a. The World Bank
b. The Federal Reserve
c. The World Trade Organization
d. The Industrial Development Board
e. The Bank of England
a
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Refer to Figure 4-1. If the market price is $1.50, what is the consumer surplus on the first burrito?
A) $0.50 B) $1.00 C) $1.50 D) $7.50
If the price of milk rises, when is the price elasticity of demand likely to be the lowest?
a. immediately after the price increase b. one month after the price increase c. three months after the price increase d. one year after the price increase
Prostitution is legal in Churchill County, Nevada, but a referendum threatened to close two brothels (prostitution businesses) in that county. What idea from Chapter 1 of the text does this story best illustrate?
A. Sunk costs do not matter in making decisions. B. Microeconomics and macroeconomics are very much interrelated. C. Social and political forces sometimes rein in market forces. D. Marginal revenue should equal marginal cost
A person puts a $100 bill in the glove compartment of his car in case of an emergency. This is an example of
A. the transaction demand for money. B. the irrational demand for money. C. the precautionary demand for money. D. the emergency investment demand for money.