A new country has been established on the moon and created a currency called cheesybits. Which of the following represents a supply of cheesybits?
A. Han is visiting the moon and wants to eat at his favorite restaurant, the Moonglow Bar and Grill.
B. Luna lives on the moon and wants to travel to visit relatives in Japan.
C. Moonbeam Incorporated, the largest company on the moon, sells building products for houses on the moon.
D. Spacejunk Corporation sells recycled spacecraft parts to Rockets-R-Us in California.
Answer: B
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The decrease in investment that occurred as a result of banks being unwilling to lend to businesses after the collapse of the housing bubble caused aggregate:
A. demand to increase. B. demand to decrease. C. supply to increase. D. supply to decrease.
If the demand for a particular agricultural product is highly elastic and bad weather causes the supply to decrease, then we would expect the price of agricultural products to
A) decrease and farmers' revenues to decrease. B) increase and the demand to decrease. C) increase while farmers' revenues decrease significantly. D) increase by a large percentage while farmers' revenues decrease only slightly.
If the marginal rate of technical substitution of labor for capital is 6, the price of labor is $18, and the price of capital is $9, then the firm
A. can substitute one unit of capital for six units of labor and keep output unchanged. B. should use more capital and less labor. C. should use more labor and less capital. D. both a and b E. both a and c
The risk structure of interest rates says:
A. the interest rates on a variety of bonds will move independently of each other. B. lower rated bonds will have higher yields. C. interest rates only compensate for risk during recessions. D. U.S. Treasury bond yields always change by more than other bonds.