This table shows the demand and supply schedule of a good.Price of GoodQDemandQsupply$0.005025$0.504026$1.003528$1.503131$2.002835$2.502740According to the table shown, at a price of $0.50 quantity demanded:
A. exceeds quantity supplied and a shortage exists.
B. is less than quantity supplied and a surplus exists.
C. is less than quantity supplied and a shortage exists.
D. exceeds quantity supplied and a surplus exists.
Answer: A
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From the standpoint of ________, specialization in lending is surprising but makes perfect sense when one considers the ________ problem
A) moral hazard; diversification B) diversification; moral hazard C) adverse selection; diversification D) diversification; adverse selection
Which of the following statements about exchange is false?
a. The expectation of gain motivates people to engage in trade. b. If a party to a potential exchange does not believe that it will lead to personal gain, he or she can chose not to engage in the trade. c. Voluntary exchange is generally mutually beneficial to the trading partners. d. If one trading partner gains, the other must lose.
Refer to the above table. The current account balance is
A. $170. B. -$45. C. $140. D. $155.
An increase in the capital stock
A. can increase output, but only if it is accompanied by an increase in the labor force. B. cannot increase output, even if it is accompanied by an increase in the labor force. C. provides valuable services directly, but not indirectly. D. can increase output, even if it is not accompanied by an increase in the labor force.