Refer to the table shown.BotswanaZimbabweGoldNickelGoldNickel030009060200186012010036301800540A comparative advantage in the production of gold is held by:
A. Zimbabwe.
B. Botswana.
C. both countries.
D. neither country.
Answer: D
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A decrease in the price of spaghetti noodles is likely to cause:
A. an increase in the demand for penne pasta due to a change in the price of a complementary good. B. a decrease in the demand for penne pasta due to a change in the price of a complementary good. C. a decrease in the demand for penne pasta due to a change in the price of a substitute good. D. an increase in the demand for penne pasta due to a change in the price of a substitute good.
A situation in which output decreases while prices increase is often referred to as:
A. inflation. B. negative economic growth. C. a recession. D. stagflation.
Answer the following statement(s) true (T) or false (F)
1. An industry's demand curve tends to be more elastic than the sum of the individual firms' labor curves. 2. A monopsonist's short-run demand curve for labor coincides with its marginal revenue product of labor curve. 3. A monopsonist will continue to hire additional laborers as long as their marginal revenue product exceeds the wage rate. 4. A monopsonist hires fewer workers and pays a lower wage than would be the case if many firms competed to hire labor. 5. The profit an owner receives is equivalent to the rent received for her entrepreneurial services.
Use the following graph for the federal funds market to answer the next question.
A $25 billion increase in reserves will change the interest rate to ________.
A. 3.5% B. 4.0% C. 3.0% D. Undeterminable with the provided information.