Voting power in the IMF is determined by
A. the population size of member states.
B. the length of membership.
C. the size of the member nation's trade surplus.
D. the quota subscription size.
Answer: D
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Use the following figure showing the domestic demand and supply curves for product B in a hypothetical economy to answer the next question.
Prior-to-trade (autarky) producer surplus equals areas
A. B + C. B. J + H. C. B + C + D. D. B + C + D + E + F.
The price elasticity of demand is calculated as the
A) percentage change in quantity demanded multiplied by the percentage change in price. B) percentage change in quantity demanded divided by the percentage change in price. C) percentage change in price divided by the percentage change in quantity demanded. D) percentage change in quantity demanded plus the percentage change in price.
If government taxes a firm which pollutes this will:
a. increase the demand for the good produced. b. decrease the supply of the good produced. c. increase the equilibrium quantity of the good produced in the market. d. decrease the equilibrium price of the good produced in the market. e. all of these.
Markets for pollution rights:
a. have never been tried in the United States. b. assign property rights to those who value them least. c. allow the government to assign property rights. d. enable those who value them most to pollute.