Suppose Will gives his wallet containing $100 to Alex to hold while he works out. During Will's workout, Alex uses the $100 to pay his mechanic who fixed his scooter. The mechanic then took this $100 to his vet to pay off his account for rescuing his pet bird. The vet then used the $100 to pay Alex for money she owed him for tutoring her in economics. After Will's workout, Alex returns the wallet with the same $100 bill inside. Although the same $100 bill was used without Will's knowledge, everybody's debt has been settled. How much money was created?
a) $0
b) $100
c) $200
d) $300
Ans: d) $300
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A. lies above the demand curve. B. is equal to the demand curve. C. intersects the demand curve. D. lies below the demand curve.
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A. increase the demand B. increase the supply C. decrease the supply D. decrease the demand
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A) the population of Country X is higher than the population of Country Y B) the number of workers in country X is higher than the number of workers in Country Y C) the population of Country X is lower than the population of Country Y D) the number of workers in country X is lower than the number of workers in Country Y
"Because firms in an oligopoly are so large, they do not need to consider each other's actions." Is the previous statement correct or incorrect? Explain your answer
What will be an ideal response?