Refer to the figure above. What is the consumer surplus when Lithasia opens up to free trade?
A) $155
B) $215
C) $245
D) $325
C
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"A country's expenditure multiplier is constant over time." Explain whether the previous statement is correct or incorrect
What will be an ideal response?
Marginal external costs are
a. additional unpriced costs imposed on society by producing one more unit of a good b. the cost of damaged goods c. the additional cost of imported goods d. the total cost to society of producing a good e. the marginal cost divided by the marginal revenue
Proved reserves of natural gas and oil
a. will last only another five years at the current worldwide consumption rate. b. reveal little about whether the world is about to run out of these resources since they are calculated at present levels of price and technology. c. are just another way of measuring how many years civilization will continue. d. indicate that the supply of petroleum will be depleted by the year 2020 unless governments adopt price controls and energy rationing.
The following table shows Alex's estimated annual benefits of holding different amounts of money.Average moneyholdings($)Total benefit($)700508005990066100071110074How much money will Alex hold if the nominal interest rate is 8 percent? (Assume she wants her money holdings to be in multiples of $100.)
A. $900 B. $800 C. $1,000 D. $700