Which of the following would most likely cause both a decrease in the price of plasma screen TVs and a decrease in the number sold?
a. an increase in the supply of plasma screen TVs
b. an increase in the demand for plasma screen TVs
c. a decrease in the supply of plasma screen TVs
d. a decrease in the demand for plasma screen TVs
D
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Under NAFTA, environmental standards are
A) harmonized around Mexican rules. B) harmonized around U.S. rules. C) harmonized around Canadian rules. D) harmonized around a combination of the rules in all three countries. E) not harmonized.
Suppose domestic beef producers face demand of QD = 1000 - 5P. Suppose the Chinese acquire a taste for U.S. beef such that their demand is QD = 500 - 5P. Market demand is now
a. 1000 - 10P for all P b. 1500 - 10P for all P c. 1500 - 5P for all P d. 1000 - 5P for P > 100 and 1500 - 10P for P < 100
The creative ability of persons to combine and direct resources to produce new products is known as:
a. economizing. b. entrepreneurship. c. value judgment. d. product sensitivity.
Assume total reserves are $1 million, check able deposits are $5 million, and the reserve requirement is 10 percent. What are the excess reserves?
a. $4 million b. $6 million c. $1 million d. $500,000