The above figure shows the U.S. market for flip-flops. When there is no international trade, the U.S. price is ________ per flip-flop and the U.S. quantity is ________ flip-flops
A) $14; 300,000 B) $14; 500,000 C) $14; 700,000 D) $12; 700,000 E) $12; 300,000
B
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What will happen to the sizes of the M1 money supply and the M2 money supply if the following transactions take place?
a. Tasha withdraws $3,000 from her checking account and holds it as currency. b. Arturo withdraws $3,000 from his savings account and deposits it in his checking account. c. Benjamin withdraws 3,000 from his savings account and puts it in a certificate of deposit (CD). d. Marisol withdraws $3,000 from her home safe and deposits it in her savings account.
Under current federal antipoverty programs,
a. economic equality is promoted at the least possible cost in economic efficiency. b. a family's benefits do not depend on its earnings from work. c. a family's total income (cash and in-kind benefits) may actually fall if its earnings from work rise. d. families with children are entitled to no more assistance than families without children.
Firms ________ in monopolistic competition due to product differentiation.
A. gain control over price B. have blocked entry C. have no control over price D. are limited in number
Money functions as a store of value if it allows you to
A. make exchanges in a more efficient manner. B. increase your confidence in money. C. delay purchases until you want the goods. D. measure the value of goods in a reliable way.