Which of the following is likely to have the most effect on a country's demand for imports?
A. Foreign income
B. The volume of the country's exports
C. The change in the country's official settlements balance
D. Prices of domestic products relative to the prices of foreign products
Answer: D
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If a market begins in equilibrium and then the demand curve shifts leftward, a
A) surplus is created, which is eliminated by a rise in price. B) shortage is created, which is eliminated by a rise in price. C) shortage is created, which is eliminated by a fall in price. D) surplus is created, which is eliminated by the supply curve shifting leftward. E) surplus is created, which is eliminated by a fall in price.
In Figure 8-5, the firm’s marginal profit at the profit maximizing output level
A. is 10. B. is 35. C. is 0. D. cannot be determined from the diagram.
Why have commodity prices fallen since 1850?
A. The demand for productive resources has fallen faster than the supply of those resources. B. The demand for productive resources has grown faster than the supply of those resources. C. The supply of productive resources has increased, while the demand has fallen. D. The supply of productive resources has grown faster than the demand for those resources.
If D equals the maximum amount of new demand-deposit money that can be created by the banking system on the basis of any given amount of excess reserves; E equals the amount of excess reserves; and m is the monetary multiplier, then:
A. m = E/D. B. D = E × m. C. D = E - 1/m. D. D = m/E.