Industries that seek trade protection from government can be said to be engaging in rent seeking behavior
a. True
b. False
A
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Use the following graph for a market to answer the question below.
Which of the following would best explain why the shift in demand from D1 to D2 would cause price to rise from P1 to P2?
A. After the shift in the demand, there would be a surplus at price P2. B. After the shift in the demand, there would be a shortage at price P1. C. After the shift in the demand, there would be a surplus at price P1. D. After the shift in the demand, there would be a shortage at price P2.
Answer the next question based on the following consolidated balance sheet for the commercial banking system.AssetsLiabilities + Net WorthReserves$50,000Checkable deposits$120,000Loans75,000Stock shares130,000Securities25,000 Property100,000 If the reserve requirement is 15% and the table above represents the balance sheet for the whole commercial banking system rather than a single bank, then loans and deposits could expand by a maximum of approximately
A. $415,373. B. $333,500. C. $120,000. D. $213,333.
When we compare PAE and actual output (Y) if PAE is greater than Y we expect that:
A. inventories to increase. B. inventories to decrease. C. there will be no change in inventories. D. the government will spend more than it has collected in taxes.
When the price of a commodity falls, we can expect
a. total utility will fall. b. marginal utility of the last unit purchased will fall. c. marginal utility of the last unit purchased will rise. d. purchases will fall because of a change in marginal utility.