According to the graph, what quantity of domestic lumber will be supplied after a tariff of $0.50 per board foot is imposed?

If Joe withdraws a $100 bill from his checking account and Jack deposits another $100 bill in his savings account, by how will M1 and M2 change?

A) M1 will decrease, but M2 will remain the same. B) M1 will increase, and M2 will increase. C) M2 will decrease by $100. D) Both M1 and M2 will remain the same. E) M1 will remain the same, and M2 will increase.

How did the gold standard help countries rectify the balance of payment problem? What were the problems associated with the gold standard?

What will be an ideal response?

Table 7-5 Stereos produced 0 1 2 3 4 5 6 Total cost (in $) 200 325 410 475 550 660 825 Table 7-5 shows short-run total cost figures for a stereo manufacturer. At what output level does short-run average total cost reach a minimum?

A. 2 B. 3 C. 4 D. 5

A firm whose production function displays increasing returns to scale will have a total cost curve that is

a. a straight line through the origin. b. a curve with a positive and continually decreasing slope. c. a curve with a positive and continually increasing slope. d. a curve with a negative and continually decreasing slope.