John Maynard Keynes argued that the fundamental problem which led to the world depression was
A) insufficient demand for goods and services. B) a shortage of goods and services.
C) negative net exports on goods and services. D) a decreasing supply of goods and services.
A
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In the above figure, if the market is in equilibrium, area A + area B + area C equals
A) total surplus. B) consumer surplus. C) deadweight loss. D) producer surplus. E) total revenue.
In the figure above, what is the consumer surplus per day?
A) $100,000 B) $50,000 C) $125,000 D) $150,000 E) zero
How has the composition of trade flows changed from the early twentieth century to today? Compared to the past, is anything about trade today new?
What will be an ideal response?
Which of the following is an example of the menu costs of inflation?
a. Tito's Restaurant has to print new menus to update its prices compared to other prices in the economy b. Beto sells stocks and earns a real capital gain of $50, but is taxed for the nominal capital gain of $75 c. During Bolivia's hyperinflation, workers rushed to immediately convert their wages from pesos to black-market dollars d. The after-tax real interest rate is lower when inflation is higher