Japan's long run fiscal situation
A) is worse than the U.S. partly because of declining overall population
B) is not as bad as the U.S. in terms of Debt to GDP ratio
C) is worse than the U.S. in terms of current interest rates on long term government bonds
D) is in bad condition because of the hangover effects of World War II
Answer: A) is worse than the U.S. partly because of declining overall population
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Refer to Figure 4-11. What is the value of the portion of consumer surplus that has been transferred to producer surplus as a result of the price floor?
A) $1,200 B) $1,500 C) $1,800 D) $3,000
In a market economy, supply and demand are important because they
a. are direct policy tools used by government agencies to regulate the economy. b. illustrate when an market is in equilibrium, but they are not helpful when a market is out of equilibrium. c. can be used to predict the impact on the economy of various events and policies. d. All of the above are correct.
The figure below shows the U.S. market for imported wine. For simplicity, we consider export supply curves to be flat. Chilean wine is available for $480 per barrel and French wine is available for $420 per barrel.
Under free trade, how many barrels of wine will the United States import and who will they import from?
A. 15 million barrels from Chile B. 22 million barrels from Chile C. 22 million barrels from France D. 10 million barrels from France
Financial intermediaries reduce risk by
A) investing in a large number of projects with independent returns. B) gaining expertise in evaluating and monitoring investments. C) investing in a small number of projects with independent returns. D) limiting the diversity of their investment portfolios.