If price was set by the government at $11, there would be a price __________, that would cause a ___________ of ______ units.
A. floor; surplus; 8
B. floor; surplus; 10
C. floor; shortage; 8
D. ceiling; shortage; 12
A. floor; surplus; 8
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As the economy turns the corner into a recession, the level of unplanned inventories ________ and firms ________ production
A) increases; do not change B) decreases; begin to decrease C) increases; begin to decrease D) decreases; begin to increase E) increases; begin to increase
Referring to the table above, if consumption in period one is zero, then consumption in period two cannot be greater than ________
A) $72,800 B) $70,400 C) $71,200 D) $70,800
Suppose that Alpha and Omega have identically sized working-age populations but that annual hours of work are much greater in Alpha than in Omega. This could happen because
What will be an ideal response?
Which of the following would be a debit in the U.S. capital account?
A. A U.S. publisher purchases a copyright from a French author for $3,000. B. A Chinese importer buys $10,000 of cigarettes from a U.S. manufacturer. C. Egypt forgives $100,000 of debt owed by the U.S. government. D. A U.S. corporation sells $50,000 of stock to investors in Japan.