If the government required car makers to install more costly and effective emission control devices on cars, it will lead to:
a. a higher price of cars and a larger quantity of cars sold.
b. a higher price of cars and a smaller quantity of cars sold.
c. a lower price of cars and a larger quantity of cars sold.
d. a lower price of cars and a smaller quantity of cars sold.
b
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The CPI compiled by the Bureau of Labor Statistics is used in the computations for the
A. foreign exchange rate. B. inflation rate. C. interest rate. D. unemployment rate.
GDP is equal to the ________ value of all the final goods and services produced within a country in a given period of time
A) production B) market C) wholesale D) retail E) typical
If R represents the reserve ratio for all banks in the economy, then the money multiplier is
a. 1/(1-R). b. 1/R. c. 1/(1+R). d. (1+R)/R.
Suppose the price of a product rises and the total revenue of sellers increases.
What will be an ideal response?