If $1 U.S. is worth $30 Canadian, then a good that sells for $30,000 in Canada should sell for _____ in the United States
a. $1,000
b. $30,000
c. $3,000
d. $10,000
a
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If price goes up 20 percent and quantity demanded declines by 10 percent, total revenue will rise.
Answer the following statement true (T) or false (F)
If the substitution effect dominates the income effect, then an increase in the wage rate will increase the quantity of labor supplied by an individual
a. True b. False
The percentage of checkable deposits that banks and other financial intermediaries are required to keep in cash reserves is known as:
a. the fractional reserve requirement. b. the excess reserve requirement. c. the required reserve ratio. d. the discount rate. e. M1.
Quantity of Frozen Latte-On-A-Stick SuppliedPriceFlo's SupplyRita's Supply10020334649951512
Refer to Table 4.1, which shows Flo's and Rita's individual supply schedules for frozen latte-on-a-stick. Assuming Flo and Rita are the only suppliers in the market, what is the market quantity supplied at a price of $2?
A. 0 B. 2 C. 3 D. 5