Exhibit 3-5 Supply for Tucker's Cola Data
Quantity supplied per week(millions of gallons)
Price pergallon
6
$3.00
5
2.50
4
2.00
3
1.50
2
1.00
1
.50
As shown in Exhibit 3-5, the price and quantity supplied by sellers of Tucker's Cola have a(n) ____ relationship.
A. direct.
B. inverse.
C. negative.
D. zero.
Answer: A
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Suppose the annual rate of interest is r%. Which of the following statements is then true of the future value of $1,000 for a time of T years?
A) Irrespective of whether the sum of $1,000 is borrowed or lent, the future value in both cases will equal (1 - r)T × (1,000). B) Irrespective of whether the sum of $1,000 is borrowed or lent, the future value in both cases will equal (1 + r)T × (1,000). C) If $1,000 is borrowed, the future value will equal (1 + r)T × (1,000), but if it is lent out, the future value will equal (1 - r)T × $1,000. D) If $1,000 is borrowed, the future value will equal (1 - r)T × (1,000), but if it is lent out, the future value will equal (1+ r)T × $1,000.
Please draw a figure illustrating the actions the central bank must take to maintain a fixed exchange rate following an increase in output
What will be an ideal response?
Total government revenues in the United States are about _____ percent of GDP
a. 25 b. 17 c. 45 d. 30
A government action that can help correct positive externalities is
A) a tax on producers of the good that provides external benefits. B) a subsidy to consumers of the good that provides external benefits. C) an effluent fee charged to producers of the good that provides external benefits. D) regulations aimed at reduced production by sellers of the good that provides external benefits.