When reality show participants travel through foreign countries, they are generating a
A. Supply of U.S. dollars and a demand for a foreign currency.
B. Demand for U.S. dollars and a supply of a foreign currency.
C. Supply of U.S. dollars and a supply of a foreign currency.
D. Demand for U.S. dollars and a demand for a foreign currency.
Answer: A
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Suppose the quantity of x is measured on the horizontal axis. If the price consumption curve is vertical when the price of x changes, then the demand for x is
A) perfectly elastic. B) perfectly inelastic. C) unit elastic. D) There is not enough information to determine the price elasticity of demand for x.
Marcia is a white 23-year-old female, and Joan is a black 23-year-old female. Both Marcia and Joan were economics majors, and they graduated from the same college in the same year with the same GPA. Marcia and Joan both got identical jobs at a brokerage firm after graduating from college. They both work equally hard. Marcia earns $38,000 a year, and Joan earns $30,000 a year. Select the best
explanation for this wage difference. a. Marcia has less human capital than Joan. b. Marcia receives a compensating wage differential that Joan does not. c. Joan has been discriminated against because she is black. d. Marcia has been discriminated against because she is white.
Refer to the graph shown. The marginal rate of substitution at point B is:
A. the same as the marginal rate of substitution at point C. B. the same as the marginal rate of substitution at point A. C. the same as the marginal rate of substitution at point D. D. impossible to determine with the information given.
When the Fed buys a $100,000 bond from a bond dealer
A. reserves of the banking system increase by $100,000, but the money supply can increase by more than $100,000. B. reserves of the banking system remain unchanged, but the money supply increases by $100,000. C. reserves of the banking system increase by $100,000, but the money supply will only be able to increase by something less than this amount. D. reserves of the banking system remain unchanged, but the money supply decreases by $100,000.