This graph demonstrates the domestic demand and supply for a good, as well as a tariff and the world price for that good.
According to the graph shown, if the economy is in autarky and decides to open trade with a tariff, the impact on domestic supply is they will:
A. increase output from 250 to 500.
B. decrease output from 815 to 500.
C. decrease output from 1500 to 1150.
D. increase output from 500 to 815.
Answer: B
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Suppose there's an 80% chance of a stock rising by 20% and a 20% chance of it falling by 40%. What is the expected rate of return on the stock?
A) -40% B) -20% C) 8% D) 16%
Which of the following is not included in the M1 money stock?
a. small time deposits b. demand deposits c. checking account deposits d. travelers' checks e. cash in the hands of the public
The law of diminishing marginal returns explains the general shape of the firm's
a. long-run cost curves. b. short-run cost curves. c. both short-run and long-run cost curves. d. The law of diminishing returns has nothing to do with cost curves.
What did Adam Smith mean by the phrase "a commercial society"?
What will be an ideal response?