As of late 2012, what was the all-time high price for an ounce of gold?
A) $1078
B) $1780
C) $7800
D) $14,163
B
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The above figure shows supply and demand curves for apartment units in a large city. At the unregulated equilibrium, producer surplus will be
A) d. B) d + e. C) d + g. D) d + c + g.
Ration coupons are often associated with price ceilings because they
a. substitute for dollars in the purchase of goods b. restore prices to equilibrium c. compensate for the producers' lost opportunities d. are used to allocate goods under conditions of excess demand e. enable producers to produce beyond equilibrium levels without suffering the consequences of lowering prices
Under the gold standard:
A) the United States set the price of gold at $35 per ounce, and other countries then established their exchange rates against the U.S. dollar (e.g., £1 = $5). B) Great Britain and the United States set the price of gold at $35 per ounce and £7 per ounce, and then other countries established their exchange rates against either the British pound or the U.S. dollar. C) all countries pegged the values of their currencies to gold. D) only gold was used to settle international transactions.
The slope of money demand curve illustrates the idea that there is
a) a positive relationship b/w the interest rate and the quantity of money demanded b) a positive relationship b/w the price level and the quantity of money demanded c) a negative relationship b/w the interest rate and the quantity of money demanded d) a negative relationship b/w the value of transactions and the quantity of money demanded e) none of the above