The money supply curve is
a. upward sloping
b. downward sloping
c. vertical
d. horizontal
e. parallel to the money demand curve
C
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Which of the following statements regarding the trucking industry is correct?
A) The recession of 2007 -2009 caused many trucking firms to exit with many firms filing for bankruptcy. B) The trucking industry most closely resembles an oligopoly. C) Even though there is a high degree of competition, firms in the trucking industry are able to sustain positive economic profits as a result of a substantial degree of product differentiation. D) The trucking industry was largely unaffected by the recession of 2007-2009 mainly because the industry is comprised by large firms with significant market power.
For a price ceiling to have an impact on a market it:
A. must be set above the equilibrium price. B. must be set below the equilibrium price. C. must be set at the equilibrium price. D. can lead more goods to be produced in a market.
Suppose that country X can produce 1,000 pounds of flour per hour, or catch 500 pounds of fish per hour. In contrast, country Y can produce 1,800 pounds of flour per hour, or catch 300 pounds of fish per hour. If both countries specialize in their comparative advantage and trade, by how much combined output of fish and flour per hour be greater than if there were no trade and the countries divide
an hour of time equally between each output? a. 200 pounds of flour and 200 pounds of fish. b. 400 pounds of flour and 100 pounds of fish. c. 50 pounds of flour and 50 pounds of fish. d. 160 pounds of flour and 200 pounds of fish.
Economies of scale were initially seen between
A) 1800 and 1840. B) 1970 and 1980. C) 1840 and 1910. D) none of these choices.