Most recently, the GATT agreement has replaced the WTO as the main institution promoting international trade
Indicate whether the statement is true or false
FALSE
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In the money market, an increase in money demand will:
A) result in a rightward shift in the money demand curve increasing interest rates. B) result in a rightward shift in the money demand curve decreasing interest rates. C) result in a leftward shift in the money demand curve increasing interest rates. D) result in a leftward shift in the money demand curve decreasing interest rates.
Suppose the demand for good X can be represented by the following equation: X d = 22 - (1/4)P. Furthermore, suppose that the demand for good Y can be represented by Y d = 50 - P.
(A) Find the elasticity of demand for both good X and good Y when the price is $10. (B) Suppose that an ad valorem tax is placed on both goods. Good Y is taxed at a rate of 5%. To ensure that the inverse elasticity rule holds, what must be the rate at which good X is taxed? Reminder: Elasticity at a given price is found using the formula ? = -(1/S)(P/X), where S is the slope of the demand curve, X is the quantity demanded, and P is the price.
If the firm learns that the complicated technology can be made more stable with a few tweaks increasing the price to 15.5 million and increasing the probability of a launch to 50%. Given the new costs and probabilities of launch for the complicated software, which technology would the firm rather invest in now?
a. The simple voice-activated software b. The complicated thought-activated software c. Neither of the software d. Need more information
In which zone will small shifts in AD, either to the right or the left, have relatively little effect on the output level, but instead will have greater effect on the price level?
a. Keynesian b. Neoclassical c. Intermediate d. Equilibrium