A market maker faces the following demand and supply for widgets. Eleven buyers are willing to buy at the following prices: $15, $14, $13, $12, $11, $10, $9, $8, $7, $6, $5 . Eleven sellers are also willing to sell at the same prices. If the market maker makes three transactions, what is his bid-ask spread per unit
a. $4
b. $5
c. $6
d. $7
c
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In 2012, which of the following countries had negative net export spending in GDP?
A) Germany B) Hong Kong C) the United States D) China
A patent gives exclusive rights to the creator for how many years?
a. 70 b. 95 c. 21 d. 25
The amount of revenue a firm receives for the sale of its products minus its costs of production as measured by its accountants is the firm's
a. earnings. b. retained earnings. c. economic, or real, profit. d. dividend.
Lower rates of inflation increase planned spending because:
A. the Fed reacts to the lower inflation by lowering interest rates. B. resources are redistributed from high-spending households to low-spending households. C. the reduction in wealth, resulting from the reduced real value of money, restrains spending. D. the prices of domestic goods sold abroad increase (with a constant exchange rate).