The figure above shows the market for brooms. If the market is efficient,
A) 0 brooms are produced.
B) 600 brooms are produced.
C) more than 1000 brooms are produced.
D) between 0 and 600 brooms are produced.
E) between 600 and 1000 brooms are produced.
B
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The opportunity cost of good A in terms of good B is equal to the
A) money price of good A minus the money price of good B. B) money price of good B minus the money price of good A. C) ratio of the money price of good A to the money price of good B. D) ratio of the money price of good B to the money price of good A.
In the United States, commercial banks supply about ________% of total credit to nonfinancial businesses
A) 20 B) 75 C) 50 D) 90
When natural resources are not traded, or where markets are not allowed to function as well as they can under a system of well-defined property rights, the problems of ____ and ____ are common
a. higher taxes; increased regulation b. waste; scarcity c. inflation; unemployment d. slow growth; fluctuating currency values
The monetary approach basically looks at as the fundamental variable affecting exchange rates.
a. interest rates; short-run b. interest rates; long-run c. the price level; short-run d. the price level; long-run