Refer to Figure 13.2. If Oliver's political views place him at the L4 position and George's political views place him at the C4 position, the winner of the election will be
A) Oliver Cousins.
B) George Glass.
C) The vote will end in a tie.
D) It is uncertain who will win this election.
D
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If a European importer can buy $10,000 for 11,100 euros, the exchange rate for the euro is ________.
A. 1 euro = $0.90 B. 1 euro = $1.11 C. 1 euro = $0.80 D. 1 euro = $0.95
From the quantity equation we find that the rate of inflation is equal by definition to the growth rate of the money supply ________ the growth rate of velocity ________ the growth rate of real GDP
A) plus, plus B) plus, minus C) minus, plus D) minus, minus
Economists assume that individuals consume products to:
a. minimize cost. b. maximize total utility. c. maximize consumption. d. minimize marginal utility.
If supply and demand both simultaneously increase,
A. the effect on the market clearing price is indeterminate, and the equilibrium quantity definitely rises. B. the market clearing price definitely rises, and the equilibrium quantity definitely falls. C. the market clearing price definitely rises, and the effect on the equilibrium quantity is indeterminate. D. the market clearing price definitely falls, and the effect on the equilibrium quantity is indeterminate.