Use the figure below to answer the following question.
In the past few years, the demand for donuts has increased. This would be illustrated by a change from
A. point 6 to point 3.
B. point 5 to point 2.
C. point 4 to point 6.
D. point 1 to point 2.
Answer: C
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When the value of a currency experiences exchange-rate appreciation, its value:
A. increases relative to the value of another currency. B. can buy more goods and services in its own country. C. decreases relative to the value of another currency. D. has experienced inflation relative to other currency.
Individual supply curves are summed vertically to obtain the market supply curve
a. True b. False Indicate whether the statement is true or false
Why do negative externalities like pollution result in inefficiency?
A. Because producers artificially restrict their supply. B. Because producers ignore the external costs they impose on third-parties. C. Because producers manufacture more goods than people can afford to buy. D. Because producers will receive an unequal distribution of profits.
The Baker Plan for addressing the debt crisis was based on the assumption that
A) most countries would eventually default on their debt. B) forgiveness of some of the debt was inevitable. C) hyperinflation would eventually reduce the real value of the debt. D) renewed lending by U.S. and European banks would restore growth and make the debt manageable.