In an open economy, the price of a TV will be ________.
A. $75
B. $175
C. $275
D. $125
Answer: D
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Swaps differ from futures and options in all of the following ways EXCEPT:
A) intended to reduce the risk faced by participants. B) more flexibility. C) more privacy. D) less regulation.
What causes a decrease in income in this graph?
a. The total of areas d + f is less than the total of areas e + d.
b. The total of areas d + f is more than the total of areas e + d.
c. The total of areas e + f is less than the total of areas e + d.
d. The total of areas e + f is more than the total of areas e + d.
Relating to the Economics in Practice on page 253: Which of the following would be an expected result of increased government subsidies for ethanol, a fuel produced from corn?
A. decreases in the price of land used to farm grains other than corn B. a decrease in the production of corn relative to other grains C. an increase in the price of land used to farm corn D. an increase in the price of gasoline made in part from ethanol
Joe's Organic Cereal Company produces granola breakfast cereal under a fixed proportion production system in which 22 ounces of cereal are packaged in each cardboard box
However, the plant production manager decides to reduce the amount of cereal per box to 20.5 ounces at the start of the next year. For the isoquant map, cereal is plotted in the vertical axis, and boxes are on the horizontal axis. What happens to the curves in the isoquant map as a result of this change? A) Shift upward B) Shift downward C) Shift rightward D) Shift leftward