If Country A opens up their corn market to trade with the rest of the world and the global price of corn is lower than the equilibrium price of corn in Country A, then Country A will ________ corn, which will ________ consumer surplus, ________
producer surplus, and ________ total surplus. A) import; increase; decrease; increase
B) import; decrease; increase; increase
C) export; increase; decrease; increase
D) export; decrease; increase; increase
E) export; decrease; increase; decrease
A
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An example of third parties in the market of automobiles is
A) a pedestrian that is affected by the polluted air from automobiles. B) a producer of automobiles. C) a consumer of automobiles. D) None of the above belongs to third parties.
In the "Prisoners' Dilemma" game, an individual player is best off if: a. both prisoners confess
b. neither prisoner confesses. c. she confesses and the other prisoner does not. d. the other prisoner confesses, while she does not.
If the nominal interest rate is 8 percent and expected inflation is 2.5 percent, then what is the real interest rate?
a. 10.5 percent b. 20 percent c. 5.5 percent d. 3.2 percent
Suppose the ABC bank has excess reserves of $4,000 and outstanding checkable deposits of $80,000. If the reserve requirement is 25 percent, what is the size of the bank's actual reserves?
A. $16,000. B. $84,000. C. $24,000. D. $20,000.