When there is a shortage in the market, the quantity sold is
A) greater than the quantity supplied.
B) equal to the quantity supplied.
C) less than the quantity supplied.
D) less than the quantity bought.
B
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The above figure shows one of Sam's indifference curves between gasoline and coffee. Which of the following about a movement along Sam's indifference curve is CORRECT?
A) As he moves leftward along the curve, he likes the combinations of gasoline and coffee better and better. B) As he moves rightward along the curve, he likes the combinations of gasoline and coffee better and better. C) He likes all combinations of gasoline and coffee along the curve equally well. D) None of the above is true.
If the Federal Reserve sells $1,000 in bonds and, as a result, the money supply decreases by $2,500, what is the required reserve ratio?
a. 0.4 b. 2.5 c. 0.5 d. 0.1 e. 0.2
With globalization, the world is moving from hundreds of national economies toward one large world economy
Indicate whether the statement is true or false
Diminishing marginal returns occurs as a firm adds more variable inputs to at least one fixed input because:
A. The ability or quality of the variable inputs hired decreases as more are hired B. The firm must lower the price of its product when it produces more units of output C. The per unit cost it must pay for variable inputs increases as more inputs are hired D. As more variable inputs are hired, the amount of the fixed input per variable input decreases