The demand for microwaves in a certain country is given by: D = 8,000 -30P, where P is the price of a microwave. Supply by domestic microwave producers is: S = 4,000 + 10P. If this economy opens to trade while the world price of a microwave is $50, how many microwaves will be imported or exported?
A. 2,000 imported
B. 2,000 exported
C. 1,000 imported
D. 3,000 exported
Answer: A
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When the United States engaged in quantitative easing from 2008 to 2014, ________ rose sharply
A) bank reserves B) inflation C) the unemployment rate D) the money supply
An increase in the money supply is represented by a(n):
a. rightward shift of the downward-sloping money supply curve. b. upward shift of the money supply curve. c. rightward shift of the money supply curve. d. increase in the rate of interest.
Given a typical demand curve and a decline in price, the consumer who wishes to maximize total utility must increase the quantity purchased of a good to arrive at an optimal MU = P point
a. True b. False Indicate whether the statement is true or false
Inflation is the increase in:
A. total output. B. total output per worker. C. imports relative to exports. D. the general level of prices.