Equilibrium in the money market occurs when __________
A) the quantity of money demanded is less than the quantity of money supplied.
B) the interest rate equals the money supply.
C) the quantity of money demanded is more than the quantity of money supplied.
D) the quantity of money demanded equals the quantity of money supplied.
Answer: D) the quantity of money demanded equals the quantity of money supplied.
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If Country A opens up their corn market to trade with the rest of the world and the global price of corn is higher than the equilibrium price of corn in Country A, then Country A will ________ corn, which will ________ consumer surplus, ________
producer surplus, and ________ total surplus. A) import; increase; decrease; increase B) import; decrease; increase; increase C) export; increase; decrease; increase D) export; decrease; increase; increase E) export; decrease; increase; decrease
A bond with a par value of $1,000 is traded at $2,000 . The interest rate offered on the bond is 10 percent per annum. The bond matures after a period of 5 years. The yield from the bond is:
a. 5 percent. b. 10 percent. c. 20 percent. d. 15 percent. e. 2.5 percent.
The following graph shows the marginal and average product curves for labor, the firm's only variable input. The monthly wage for labor is $2,800. Fixed cost is $160,000.
When the firm uses 120 units of labor, what is its AVC at this output?
A. $60 B. $40 C. $70 D. $56 E. none of the above
A measure of GDP in which quantities produced are valued at current-year prices is called:
A. real GDP. B. nominal GDP. C. physical GDP. D. base GDP.