Figure 4.4 illustrates the supply of tacos. An increase in the supply of tacos is represented by a movement from:
A. point a to point b.
B. point c to point b.
C. S2 to S1.
D. S0 to S1.
Answer: D
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Leather belts and leather shoes are substitutes in production. If style changes increase the demand for leather belts, the supply curve of leather shoes will shift
A) leftward and the equilibrium price of leather shoes will fall. B) leftward and the equilibrium price of leather shoes will rise. C) rightward and the equilibrium price of leather shoes will fall. D) rightward and the equilibrium price of leather shoes will rise.
A bank's excess reserves can be calculated as
A) total reserves times the reserve ratio. B) demand deposits times the reserve ratio. C) total reserves minus required reserves. D) demand deposits minus total reserves.
One of the key factors in the economic success of South Korea was
a. an increase in years of schooling. b. a reduction in the amount of imports. c. the creation of new technology. d. all of the above.
Who receives income from capital in the United States?
a. bank depositors b. bondholders c. stockholders d. All of the above are correct.