Each year, Americans visiting casinos gamble a total of
A. $300 billion.
B. $3 million.
C. $38 billion.
D. $30 million.
Answer: C
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There exists a substantial underground market in food stamps
a. True b. False
If the supply of loanable funds shifts left, then
a. the real interest rate and the equilibrium quantity of loanable funds both fall. b. the real interest rate falls and the equilibrium quantity of loanable funds rises. c. the real interest rate and the equilibrium quantity of loanable funds both rise. d. the real interest rate rises and the equilibrium quantity of loanable funds falls.
If the U.S. government enters the foreign exchange market and sells dollars to attain a specific exchange rate with the yen, the dollar will ________ and the yen will ________.
A. depreciate; depreciate B. depreciate; appreciate C. appreciate; depreciate D. appreciate; appreciate
Suppose at the current price, the demand for copper is estimated at -3.14. What happens to sales revenue if the government imposes a price ceiling below the free market equilibrium price in the copper market?
A) Sales revenue falls. B) Sales revenue remains unchanged because copper is a necessity for most industries. C) Sales revenue rises. D) It cannot be determined without information on prices.