According to the quantity theory of money, an excess quantity of money supplied will lead to
A) a reduction in spending and higher interest rates.
B) a reduced level of real Gross Domestic Product (GDP).
C) a higher level of employment.
D) a higher price level.
D
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General Electric (GE) produces wind turbines that generate wind power. Over the past 10 years, the advances in technology used to produce wind turbines has resulted in
A) a movement up along the supply curve for wind-generated power. B) a rightward shift in the supply curve for wind-generated power. C) a decrease in the supply of wind-generated power. D) GE increasing the quantity supplied of wind turbines.
?Kites /hourSnowboards /hourJesse81April123
Consider two individuals, Jesse and April, who hand paint kites and snowboards. Table 18.2 shows how much of each good Jesse and April can paint in one hour. Which of the following is TRUE?
A. April has a comparative advantage in painting kites but not snowboards. B. April has a comparative advantage in painting snowboards but not kites. C. April has a comparative advantage in painting both goods. D. April does not have a comparative advantage in painting either good.
In economics
A) both resources and wants are limited. B) both resources and wants are unlimited. C) resources are limited but wants are unlimited. D) resources are unlimited but wants are limited.
Figure 6.9 depicts a hypothetical fish market with a horizontal supply curve. Suppose the government imposes a tax of $2 per pound of fish, and the tax is paid in legal terms by producers. Which of the following shows the loss of consumer surplus on the fish that are not consumed because of the tax?
A. Triangle C B. Rectangle B + Triangle C C. Triangle C + Rectangle E D. Rectangle B + Rectangle D