Which of the following will have no impact on the demand for ice cream in the short run?
a. A change in population size
b. A change in the price of ice cream
c. A change in seasons
d. A change in consumer preferences
e. A change in consumer incomes
b
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A country temporarily producing a combination of 12 units of guns and 5 units of butter would be ________________ (outside/on/inside) the production possibilities curve.
When the demand curve shifts to the right and supply doesn't change:
A. supply will rise. B. equilibrium quantity will rise. C. equilibrium price will fall. D. quantity demanded will rise.
Answer the following statements true (T) or false (F)
1) The vast majority of the labor forces of the low-income DVCs are engaged in agriculture. 2) Most of the DVCs of the world are located in Western Europe. 3) DVCs tend to have permanent shortages of farm labor. 4) Most nations of the world are now IACs, not middle- and low-income DVCs. 5) The most important growth obstacle common to all DVCs is the lack of desire to increase their standards of living.
Traveler’s letters of credit are
a) issued by a bank and addressed to a list of banks in other countries b) especially popular with tourist c) convertible into cash at most large banks d) of special value of exporters