Consumer surplus is reflected by the area under the demand curve but below the price
Indicate whether the statement is true or false
false
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When the Fed raises the target for federal funds, it
A) sells government bonds. B) increases the discount rate. C) buys government bonds. D) increases the required reserve ratio.
Suppose that opportunity costs in India and Thailand are constant. In India, maximum feasible hourly production rates are either 0.3 unit of cloth or 0.2 unit of food. In Thailand, maximum feasible hourly production rates are either 0.5 unit of cloth or 0.5 unit of food. It is correct to state that
A. Thailand has a comparative advantage in producing cloth. B. India has a comparative advantage in producing both cloth and wheat. C. India has a comparative advantage in producing cloth. D. India has no comparative advantage in producing cloth or wheat.
Explain whether you would expect the elasticity of supply to be highly elastic or inelastic for fresh cut flowers and why
What will be an ideal response?
Refer to the information provided in Table 21.4 below to answer the question(s) that follow. Table 21.4
Refer to Table 21.4. The value for GDP in billions of dollars is
A. 910. B. 920. C. 950. D. 1,050.