Which of the following is an accurate statement of the difference between the individual demand curve and the individual supply curve?
a. The demand curve slopes upward from left to right; the supply curve slope downward from left to right.
b. The demand curve slopes downward from left to right; the supply curve slopes upward from left to right.
c. The demand curve can be shifted by technology variables; the supply curve can be shifted by income variables.
d. The demand curve can be shifted by price variables; the supply curve can be shifted by taste variables.
b. The demand curve slopes downward from left to right; the supply curve slopes upward from left to right.
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The components of the U.S. M1 money supply are demand and checkable deposits plus
A) currency. B) currency plus savings deposits. C) currency plus travelers checks. D) currency plus travelers checks plus money market deposits.
If net exports are a negative number, then:
a. we are not buying enough exports. b. we are buying too many exports. c. GDP will underestimated when measured using the expenditure approach. d. we are exporting more than we are importing. e. we are exporting less than we are importing.
Your parents have given you a new car on your 16th birthday for which they paid about $24,000. Assume this is also the price you would get if you decided to sell the car a month after getting it. The monthly costs of driving the car are $100 for oil changes and $200 for gas. If you decide to keep the car, the total costs of the car to you this month will be
A. $2,300. B. $24,300. C. $300. D. $0.
Look again at the figure The Market for Sandwiches. How much total surplus would be lost if there were a quota of only eight sandwiches that could be legally exchanged at a price of $5?
A) $3
B) $72
C) $27
D) $32