To protect the cod fishery off the northeast coast of the U.S., the federal government may limit the amount of fish that each boat can catch in the fishery. The result of this public policy is to:
A) shift the cod demand curve to the left.
B) shift the cod demand curve to the right.
C) shift the cod supply curve to the right.
D) shift the cod supply curve to the left.
D
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As of 2008, with which of the following countries did the U.S. not have a preferential trade agreement?
A) Mexico. B) Canada. C) Russia. D) Israel.
If the consumer has a great deal of time to adjust to an increase in the price of gasoline, which of the following is correct?
A) Quantity demanded will be relatively sensitive to the change in price. B) The percentage change in quantity demanded will be quite small relative to the percentage change in price. C) The percentage change in price will be quite large relative to the percentage change in quantity demanded. D) Demand will tend to be unitary elastic as it is for most goods in the long run.
A commercial bank has $1,000,000 of outstanding demand deposits and actual reserves of $300,000 . If the required reserve ratio is 20 percent, what is the maximum amount of new loans the bank can extend?
a. zero b. $100,000 c. $300,000 d. $700,000
If Sally Smith creates VCU1 by playing an online game, the effect is to cause the nation's:
a. Monetary base to fall. b. M2 money supply to fall. c. M2 money multiplier to remain the same. d. M2 money multiplier to fall.