Gold buyers are located in New York and Zurich. If the price of gold is $400 an ounce, the worldwide demand for gold is 10,000 ounces. Also, the price elasticity of demand for gold in New York and Zurich are -3 and -2 respectively
If the slope of each demand curve in New York is the same as in Zurich, then the quantity of gold demanded by dealers in Zurich is A) 10,000/3.
B) 5,000.
C) 6,000.
D) 10,000.
E) none of the above
C
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Corn is used to produce tortillas. If the price of corn increases
A) the demand for tortillas decreases. B) the supply of tortillas increases. C) the supply of tortillas decreases. D) the demand for tortillas increases.
Refer to the diagram above, which represents a country's supply and demand for an internationally traded good
If PW is the world price, and a foreign country engages in dumping by selling at P1, the country's producer surplus will ________ by ________. A) increase; abcd B) decrease; abcd C) increase; bcd D) decrease; a
Why does the LL schedule have a negative slope?
A) The economic stability loss from pegging to the area's currencies rises as the degree of economic interdependence rises. B) The economic stability loss from pegging to the area's currencies falls as the degree of economic interdependence rises. C) The economic stability loss from pegging to the area's currencies falls as the degree of economic interdependence falls. D) The economic stability loss from pegging to the area's currencies rises as the degree of economic activity increases. E) The economic stability loss from pegging to the area's currencies is constant, even as the degree of economic activity increases.
Interdependence among firms is characteristic of: a. perfectly competitive markets
b. monopoly markets. c. oligopoly markets. d. monopolistically competitive markets.