Which of the following demonstrates the law of supply?
a. When leather became more expensive, belt producers decreased their supply of belts
b. When car production technology improved, car producers increased their supply of cars.
c. When sweater producers expected sweater prices to rise in the near future, they decreased their current supply of sweaters.
d. When lemon prices rose, lemon growers increased their quantity supplied of lemons.
d
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Which of the following statements about the financial and real sectors is true?
A. For every real asset there is a financial asset. B. For every financial asset there is a real asset. C. For every real transaction there is a financial transaction. D. For every financial transaction there is a real transaction.
If a basket of goods costs $10 in the United States and 100,000 rubles in Russia, then purchasing power parity will exist if the exchange rate between the ruble and the dollar is:
A. 0.1 dollars per ruble. B. 1,000 rubles per dollar. C. 0.01 dollars per ruble. D. 10,000 rubles per dollar.
________: level of output at which average total costs equal average revenue or market price
Fill in the blank(s) with correct word
A shift from S1 to S2 reflects the change that happens when a negative externality is taken into account. A shift from D1 to D2 reflects the change that happens when a positive externality is taken into account.Refer to the above figures. Externalities exist in both panels. After correcting for the externalities the prices should be
A. P1 and P3. B. P1 and P4. C. P2 and P3. D. P2 and P4.