With the value of money on the vertical axis, the money supply curve is
a. upward-sloping.
b. downward-sloping.
c. horizontal.
d. vertical.
d
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The figure above shows the market for annual influenza immunizations the United States. If the government does not intervene in this market, deadweight loss equals ________
A) $350 million B) $250 million C) $500 million D) $600 million E) $37.5 million
The table above gives the production and prices for a small nation that produces only bread and soda. The base year is 2009. What is nominal GDP in 2009?
A) $410 B) $450 C) $900 D) $550 E) $460
If each player responds by imitating the action of his opponent in the previous round of a repeating game, the players are following a:
A. repeated cooperation agreement. B. collusion plan. C. commitment strategy. D. tit-for-tat strategy.
The supply curve of a price-taker firm in the short run is the:
a. firm's average variable cost curve. b. portion of the firm's average total cost curve that lies above average variable cost curve. c. portion of the firm's marginal cost curve that lies above average variable cost curve. d. firm's marginal revenue curve.