Which of the following suggests that the “laws” of supply and demand are being disobeyed?
A. Outside forces disturbing an equilibrium
B. Persistent shortages or surpluses
C. The market never moving from an equilibrium
D. “Other things” not always being equal
Answer: B
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Refer to the above figure. Which panels could represent the situation if the Fed had engaged in open market operations?
A) Panels A and B B) Panels A and C C) Panels B and C D) Panels C and D
Other things the same, if U.S. residents wanted to buy more foreign-made computers and foreign residents wanted to purchase more U.S. bonds then,
a. U.S. net exports and the exchange rate would rise. b. U.S. net exports would rise, but what would happen to the exchange rate is uncertain. c. U.S. net exports would fall, but what would happen to the exchange rate is uncertain. d. U.S. net exports and the exchange rate would fall.
If point C is now 9 units of guns and 8 units of butter, the maximum units of guns possible to produce is 17 and the maximum units of butter possible to produce is 13, the production possibility curve would have shifted _____________ (outward/inward).
The supply curve of a one-of-a-kind original painting is
What will be an ideal response?