Refer to Figure 4-6. What is the value of consumer surplus after the imposition of the price floor?
A) $1,500 B) $2,700 C) $4,500 D) $5,700
A
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Refer to the table below. Martha's opportunity cost of making a cake is: Time to Make a PieTime to Make a CakeMartha60 minutes80 minutesJulia50 minutes60 minutes
A. 60 pies. B. 3/4 of a pie. C. 6 pies. D. 4/3 of a pie.
The Baumol-Tobin analysis suggests that
A) velocity is relatively constant. B) the transactions component of the demand for money is negatively related to the level of interest rates. C) the speculative motive is nonexistent. D) velocity is unrelated to the transactions motive.
M1 includes all but which of the following?
A) savings deposits. B) currency in the hands of the public. C) transactions accounts. D) travelers checks.
Certain behavior associated with expected inflation can
A. allow borrowers to pay with more valuable dollars. B. allow lenders to collect with more valuable dollars. C. reduce inflation rates overall. D. actually increase the overall rate of inflation.