In September, buyers of silver expect that the price of silver will rise in October. What happens in the silver market in September, holding all else constant?
A) The quantity demanded increases. B) The quantity demanded decreases.
C) The demand curve shifts to the right. D) The demand curve shifts to the left.
C
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Suppose you found $10,000 hidden under a rock and deposited it in a demand deposit account at your bank. If the reserve requirement was 20 percent, your deposit would initially add ____ to total demand deposits and over time increase the money supply by a maximum of ____
a. $2,000; $4,000 b. $2,000; $40,000 c. $10,000; $40,000 d. $10,000; $50,000
Economies with sustained high inflation generally have
A) very low unemployment rates. B) very low GDP growth rates. C) high rates of business investment. D) independent central banks.
Which of the following countries devote the smallest percentage of its GDP to taxes?
A. Norway B. Sweden C. France D. United States
Answer the following questions true (T) or false (F)
1. When there is a positive externality in a free market, too much of the good is produced and consumed. 2. When there is a negative externality, the competitive output is greater than the economically efficient output level. 3. The marginal social cost of a good or service is the cost borne by the producer.