What will happen to the equilibrium price and quantity of coffee if it is discovered to help prevent colds and, at the same time, Brazil and Vietnam emerge in the global market as massive producers of coffee?
A) The price will fall and the effect on the quantity is uncertain.
B) The quantity will increase and the effect on the price is uncertain.
C) The quantity will decrease and the price will rise.
D) The quantity will increase and the price will remain unchanged.
B
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The expenditure approach to measuring U.S. GDP equals _________
A. the sum of U.S. consumption expenditure and U.S. investment B. U.S. government expenditure minus taxes paid by Americans C. all expenditure on final goods and services produced in the United States in a given time period D. all expenditure by Americans on goods and services produced in the United States in a given time period
The individual countries of the Eurozone are on which side of the "policy trilemma"?
A) free capital mobility and independent monetary policy B) free capital mobility and fixed exchange rate C) fixed exchange rate and independent monetary policy D) fixed exchange rate and capital controls
Why do economists sometimes treat decision makers as boundedly rational?
In the circular flow model, households:
a. Buy products and sell resources b. Sell products and buy resources c. Buy products and resources d. Sell products and resources