If the British price level rose relative to the Swiss price level, there would be
a. a rightward movement along the supply of Swiss francs curve in the pound-franc market
b. a leftward movement along the supply of Swiss francs curve in the pound-franc market
c. an increased supply of Swiss francs to the pound-franc market
d. a decreased supply of Swiss francs to the pound-franc market
e. no change of the supply of Swiss francs curve in the pound-franc market
D
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Speculators who expect a corn harvest next fall much larger than anyone now anticipates will
A) lower current corn prices and raise September prices above what they would be in the absence of the speculators. B) lower current corn prices and lower September prices below what they would be in the absence of the speculators. C) raise current corn prices and lower September prices below what they would be in the absence of the speculators. D) raise current corn prices and raise September prices above what they would be in the absence of the speculators. E) raise the expected September price of corn.
A monopolist earns only normal profits in the long run
a. True b. False Indicate whether the statement is true or false
In terms of the impact on aggregate expenditure of alternative methods of raising additional revenue for government spending,
a. borrowing from banks is more effective than taxation, which is more effective than borrowing from the public. b. taxation is more effective than borrowing from the public, which is more effective than borrowing from banks. c. borrowing from banks is more effective than borrowing from the public, which is more effective than taxation. d. borrowing from the public is more effective than borrowing from the banks, which is more effective than taxation.
Harry produces 2 balloon rides and 4 boat rides an hour. Harry could produce more balloon rides but to do so he must produce fewer boat rides. Harry is ________ his production possibilities frontier
A) producing inside B) producing on C) producing outside D) producing either inside or on