Remember the fish market? On the market day, the supply curve is ____________ but over the long run the supply curve is quite __________
a. income inelastic; elastic
b. elastic; inelastic
c. inelastic; elastic
d. fixed; variable
e. variable; fixed
C
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During the Great Depression, one reason the Federal Reserve did not respond forcefully was the "free gold problem," which refers to the idea that ___
a. gold was fleeing Nazi Germany, thus undermining the Fed's attempt to control the money supply b. gold was essentially free because people had excess supplies of currency that could be converted into gold c. the Fed claimed that almost all its gold was tied up by reserve requirements (there was little free so it could not increase the money supply) d. gold was essentially free because silver, which existed in abundance, could be converted into gold at the fixed rate of 16:1
What best describes immigration in the US?
a. South-eastern Europe was the largest source of immigrants in the late 19th century and Latin America was the largest source at the beginning of the 20th century. b. Asia was the largest source of immigrants in late 20th century and south-eastern Europe was the largest source in the first half of the 19th century. c. Britain was the largest source of immigrants through the 18th century and Germany and Ireland were the largest sources in the last quarter of the 19th century. d. Ireland and Germany were the largest sources of immigrants in the middle of the 19th century and Latin America and Asia were the largest sources at the end of the 20th century.
The graph shown portrays a subsidy to buyers. The amount of money spent on this subsidy by the government is:
A. $3,600.
B. $2,400.
C. $6,000.
D. $800.
At what level of disposable income is saving 1400?
