Refer to the above figure. Which diagram shows the effect on the market of Corn Flakes when the price of Corn Flakes has increased?
A) graph C
B) graph D
C) neither graph
D) both graphs
C
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In-kind transfers are transfers to the poor
a. in the form of goods and services rather than cash. b. in the form of goods, services, and cash. c. from private charitable organizations only. d. from the federal government only.
If an economy is producing at a point inside a production possibilities curve:
A. there is economic growth. B. resources are fully employed. C. resources are unemployed. D. the economy is efficient.
A seller who is offering a low-quality used good for sale:
A. is less likely to offer a money-back guarantee than is a seller who is selling a high-quality good. B. is more likely to offer a money-back guarantee than is a seller who is selling a high-quality good. C. is just as likely to offer a money-back guarantee than is a seller who is selling a high-quality good. D. is the only kind of seller who would ever offer a money-back guarantee because sellers of high-quality goods do not have to offer guarantees.
Use the data in the table below to answer the next question. The data describes a hypothetical economy and are denominated in billions of dollars.Personal consumption expenditures$4,500Consumption of fixed capital150Gross private domestic investment800Government purchases950Exports65Imports85What is the value of net exports in this economy?
A. ? $20 billion B. ? $65 billion C. $20 billion D. $150 billion