It is not optimal to have equal incomes.
Answer the following statement true (T) or false (F)
True
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The change in total welfare from a 10% increase in price will depend only on the elasticity of demand
Indicate whether the statement is true or false
Research on the productivity of southern cotton plantations shows that:
a. cotton production was greater on large slave plantations than on small free-family farms. b. the majority of the South's cotton crop was grown on farm units of less than 100 acres. c. output per slave declined during the antebellum period. d. plantation-style agriculture was inefficient. e. All of the above.
Decisions on the Fed’s buying and selling of government securities to control the U.S. money supply are made by
a. the Federal Open Market Committee. b. Federal Reserve Banks. c. the Board of Governors. d. the president of the New York Federal Reserve Bank.
Which of the following explains the shift in the foreign exchange market?
a. U.S. residents demanded more European goods and hence demanded fewer euros.
b. Europeans demanded more U.S. goods and hence demanded more U.S. dollars.
c. U.S. residents demanded fewer European goods and hence demanded more euros.
d. Europeans demanded fewer U.S. goods and hence demanded less U.S. dollars.