The above figures show the market for HD televisions. If research is published showing that watching HD television shows causes eye damage, then which figure shows the effect of this change?
A) Figure A
B) Figure B
C) Figure C
D) Figure D
E) None of the figures represent this change.
B
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The foreign exchange market is the market on which ________ of various nations are traded for one another.
A. stocks and bonds B. international financial securities C. goods and services D. currencies
Economic theory
a. expresses normative values b. invents imaginative and interesting stories c. predicts the behavior of a specific economic decision maker after an economic change d. predicts the average behavior of a group of similar economic decision makers after an economic change e. uses only perfect and complete information
Marginal revenue product equals marginal revenue times the price of output.
Answer the following statement true (T) or false (F)
The liquidity trap refers to the situation where:
A. the Fed adds excess reserves to the banking system, but it has minimal positive effect on lending, investment, or aggregate demand. B. excessive consumer debt limits the growth in consumer spending necessary to bring the economy out of recession. C. the public debt is so large that federal borrowing drives up interest rates and discourages private sector spending. D. a financial crisis causes a run on banks and the elimination of billions in excess reserves.