For barter exchange to take place,
a. there has to be a coincidence of wants.
b. the products in question have to be divisible.
c. money has to be used to put a value on the transaction.
d. there has to be a single coincidence of wants.
e. gold has to be one of the goods traded.
a
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A firm's shutdown point is the output and price at which the firm's total revenue just equals its total variable cost
Indicate whether the statement is true or false
Suppose a nation's saving, gross private domestic investment, government spending, and taxes remained unchanged from Year 1 to Year 2, but tariffs and quotas on imported goods and services rose by 20% from Year 1 to Year 2 . The net effect on the balance on goods and services would be:
a. It would have no effect on the balance on goods and services. b. It would make the balance on goods and services more positive. c. It would make the balance on goods and services more negative. d. There is no way to tell what effect it would have on the balance on goods and services.
In what way does inflation redistribute wealth?
A. Inflation redistributes wealth from lenders to borrowers. B. Inflation redistributes wealth from long-term borrowers to short-term borrowers. C. Inflation redistributes wealth from borrowers to lenders. D. Inflation redistributes wealth from short-term borrowers to long-term borrowers.
PriceQuantity SuppliedQuantity Demanded$00300$110250$250180$390150$4120120$515090$618050 Refer to Table 6.1, which gives the daily supply and demand schedules for cups of coffee at a kiosk in a shopping mall. If the government places a $4 per cup tax on coffee, how many cups of coffee will be bought and sold after the tax is imposed?
A. 50 B. 90 C. 150 D. 120