If money is moved from a consumer checking account into a consumer savings account,
A. M1 and M2 both remain unchanged.
B. M1 decreases and M2 remains unchanged.
C. M1 and M2 both increase.
D. M1 increases and M2 decreases.
Answer: B
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The above figure shows the production possibility frontier for a country. What is the opportunity cost per ton of rice to move from point B to point D?
A) 500 bottles of wine B) 2 bottles of wine C) 1/2 of a bottle of wine D) 1000 bottles of wine E) None of the above answers is correct.
When a monopolist increases output, total revenue will:
A. increase if the price effect outweighs the quantity effect. B. decrease if the quantity effect outweighs the price effect. C. increase if the quantity effect outweighs the price effect. D. increase but it will have no price effect.
Which of the following would cause prices and real GDP to rise in the short run?
a. short-run aggregate supply shifts right b. short-run aggregate supply shifts left c. aggregate demand shifts right d. aggregate demand shifts left
During the 2020 Summer Olympics in the city of Tokyo, some Tokyo residents rented rooms to visitors. This behavior
A. raised the demand for hotel rooms in Tokyo and should have been prevented by the city of Tokyo. B. helped reduce the shortage of hotel rooms caused by the high demand during the Olympics. C. reduced the demand for tickets to the Olympics since many local residents left Tokyo while they rented out space in their homes. D. helped raise the prices that visitors paid for hotel rooms in Tokyo.