Supply curves are generally
A. responsive to demand curves.
B. downward-sloping.
C. a straight line in real life.
D. upward-sloping.
Answer: D
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How much money to hold is an application of the:
A. cost-benefit principle. B. scarcity principle. C. principle of increasing opportunity cost. D. principle of comparative advantage.
Discuss the options for financing a balance of payments deficit
What will be an ideal response?
Refer to Figure 10.9. Other things equal, a decrease in the nominal money supply by the Fed is best represented as a change in equilibrium from
A) point A to point B. B) point A to point D. C) point C to point B. D) point C to point D.
The above figure shows the market for rice in Japan. SDomestic represents the domestic supply curve, and Sworld represents the world supply curve. If imported rice is banned, the consumption distortion loss is equal to
A) a + b + c + d. B) a + b + c + d + f + g. C) f + g. D) a + c + f + g.