Tasha is undecided about whether to sell her house or not. If the real estate agent comes to her with a $150,000 offer, she will not sell. If the offer is $175,000 . she will sell. Think of Tasha as one of hundreds of would-be sellers on the housing market. It illustrates that
a. the demand for real estate is unreliable
b. Tasha's decision making reflects a market-day supply
c. there must be an excess supply of homes
d. the supply curve for homes is upward sloping
e. the supply curve for homes is downward sloping
D
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The figure above shows a nation's production possibilities frontier. In the figure, point A shows
A) the minimum quantity of pizza that the society must produce. B) the maximum quantity of pizza that can be produced. C) an unattainable point. D) an attainable point with unemployed resources. E) More information is needed to determine which of the above answers is correct.
Which of the following institutions is not eligible to borrow from the Federal Reserve at the discount rate?
A) Federal government B) Commercial banks C) Credit unions D) Mutual savings banks
During the financial crisis of 2007-2009, the Fed's quantitative easing program raised fears of inflation among investors, and to combat this fear, the Fed announced it would withdraw the monetary stimulus as the economy recovered
What happened to inflationary expectations during the latter part of the 2007-2009 recession? A) Inflationary expectations decreased based on the Fed's promise to withdraw stimulus money from the economy. B) Inflationary expectations increased to record high levels despite the Fed's promise to withdraw stimulus money from the economy. C) Inflationary expectations did increase, but the increase only returned expected inflation to its pre-recession level. D) Inflationary expectations decreased to the point where the Fed became worried about the economy becoming deflationary.
The effects of tariffs and quotas are: a(n) __________ in consumers' surplus, and a(n) __________ in producers' surplus
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease