What is the price of a TV in an open economy with a quota?
A. $100
B. $75
C. $150
D. $125
Answer: D
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Use the following given market-for-money diagrams to answer the next question.
Curve D1 represents the
A. transactions demand for money. B. asset demand for money. C. total demand for money. D. stock of money.
The owner of a firm wants some advice on how to increase productivity. Suggest three ways the entrepreneur could increase labor productivity through improving technology
What will be an ideal response?
Suppose the number of medical school graduates continues to increase over the next decade. Which of the following is true?
a. Physicians' salaries must fall. b. Physicians' salaries must rise. c. Physicians' salaries will fall only if the demand for medical services falls. d. Physicians' salaries will fall if the demand for medical services rises more than the supply of physicians rises. e. Physicians' salaries will rise if the demand for medical services rises more than the supply of physicians rises.
When a motorist speeds down the road at well above the posted limit, economists believe that the principle of ____ may be directing his actions
a. rent seeking b. defective telescopic faculty c. moral hazard d. resource misallocation