Refer to Figure 3-7. Assume that the graphs in this figure represent the demand and supply curves for tuna. Which panel best describes what happens in this market when there is a decrease in the productivity of commercial fishermen?
A) Panel (a) B) Panel (b) C) Panel (c) D) Panel (d)
B
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Hyundai is a large South Korean company that produces finished steel products. Hyundai plans to buy raw steel from U.S. Steel. As a result, the demand curve for U.S. Dollars ________ and the demand curve for South Korean Won ________
A) shifts rightward; does not shift B) shifts rightward; shifts leftward C) does not shift; shifts leftward D) shifts leftward; shifts rightward
If cyclical unemployment is eliminated
a. GDP is at its full-employment level b. GDP is at its equilibrium level c. the loanable funds market is in equilibrium d. the aggregate supply curve shifts upward e. potential output has increased
Losses are important to a competitive price-searcher market (industry) because they send a message to the market participants that
a. more resources should be devoted to a particular industry. b. resources can rise in value if diverted away from that particular industry. c. resources are allocated exactly as they should be. d. the firms should charge lower prices.
We would expect which of the following to occur when the central bank conducts an open market sale of bonds?
A) a reduction in the monetary base (H) B) a reduction in the money multiplier C) an increase in H D) an increase in the money multiplier E) both C and D