Refer to Figure 3-2. A decrease in the price of inputs would be represented by a movement from
A) A to B. B) B to A. C) S1 to S2. D) S2 to S1.
C
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An import quota does which of the following?
A. Decreases the price of the imported good to the consumer. B. Increases the price of the domestic good to the consumer. C. Redistributes income from the domestic producer to the protected domestic exporter. D. Decreases the price received by the foreign producer.
The Fed relies on open-market operations, which work
A. with the Treasury in creating money to finance bonds. B. through major stock exchanges to influence bond prices. C. directly through the nonbank public to change their assets. D. through the banking system by affecting their reserves.
Figure 14.2 represents the market for used cameras. Suppose buyers are willing to pay $125 for a plum (high-quality) used camera and $25 for a lemon (low-quality) used camera. If buyers believe that 50% of the used cameras in the market are lemons (low quality), how much will they pay for a used camera?
A. $25 B. $50 C. $75 D. $125
Refer to the information provided in Figure 6.14 below to answer the question(s) that follow.
Figure 6.14Refer to Figure 6.14. The slope of the indifference curve is the ratio of the
A. total utility of ice cream cones to the total utility of ice cream sandwiches. B. marginal utility of ice cream sandwiches to the marginal utility of ice cream cones. C. total utility of ice cream sandwiches to the total utility of ice cream cones. D. marginal utility of ice cream cones to the marginal utility of ice cream sandwiches.