If the supply curves for the following goods were plotted, they all would slope upward except one. Which is the exception?
a. red Corvettes
b. yogurt
c. diamond rings
d. original copies of the Mona Lisa
e. wine from Greece
D
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Rational slave owners had economic incentive to adequately clothe, feed and care for their slaves
Indicate whether the statement is true or false
Making a decision "on the margin" involves comparing:
A. additional benefits against additional costs. B. total benefits against total costs, which include benefits and costs from past decisions. C. sunk costs against opportunity costs. D. the most benefit you could expect to get without considering costs.
An example of a U.S. export would be:
A. a French bottle of wine consumed by an American. B. an Apple computer purchased by a U.S. college student who plans to study abroad in France. C. a bushel of apples that Canadians pick and enjoy on a lovely fall day in Vermont. D. an Apple computer, made in the U.S., purchased by a French student.
When the Fed wants to undertake open market operations, it
A) buys or sells securities through the trading desk at the New York Federal Reserve Bank. B) can require all commercial banks to buy from or sell to it. C) can require all member banks to buy from or sell to it. D) buys from or sells to the U.S. Treasury.