Figure 17-10
Refer to . Consumer surplus with the tariff is
a.
A.
b.
A + B.
c.
A + C + G.
d.
A + B + C + D +E + F.
b
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Stagflation is generally caused by:
a. an increase in aggregate demand. b. a decrease in aggregate demand. c. an increase in aggregate supply. d. a decrease in aggregate supply.
The APC is calculated as:
A. change in consumption/change in income. B. consumption/income. C. change in income/change in consumption. D. income/consumption.
One of the lessons from the 2007-2009 financial crisis regarding the management of risk by financial institution is that:
A. many of the usual mechanisms for managing liquidity risk actually worked pretty well. B. many banks lacked real-time information that would allow them to assess their various risk exposures at the bank-wide level. C. some banks, especially large ones, overestimated the trading risk associated with mortgage backed securities. D. banks were holding too much capital as a protection against market risk.
Refer to the table below for a certain product's market in Econland. If Econland were entirely closed to international trade, the equilibrium price and quantity would be:
A. $9 and 2,000 units
B. $8 and 1,800 units
C. $7 and 2,000 units
D. $6 and 1,400 units