How is the gain from exports distributed between consumers and domestic producers?
What will be an ideal response?
Consumers lose from exports and domestic producers gain from exports.
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The equation of exchange states that:
a. money supply multiplied by real output equals velocity. b. velocity multiplied by money supply equals the selling price times the quantity of actual output. c. money supply divided by velocity equals nominal GDP. d. money supply divided by velocity equals real GDP.
In what market type does an individual firm face a perfectly elastic demand curve?
A) perfect competition B) monopolistic competition C) oligopoly D) monopoly
If two goods are often consumed together, they are
a. substitute goods b. inferior goods c. complementary goods d. normal goods e. unrelated goods
Moral hazard:
A. always happens when adverse selection is a problem. B. can happen when adverse selection is a problem. C. never happens when adverse selection is a problem. D. None of these statements is true.