The following graph shows the supply of movie downloads. At a price of $4.00, what is the quantity supplied by each of the producers?
A. Charlie: 1, Barry: 5, Ann: 8 movies per week
B. Charlie: 4, Barry: 5, Ann: 15 movies per week
C. Charlie: 3, Barry: 6, Ann: 7 movies per week
D. Charlie: 0, Barry: 4, Ann: 14 movies per week
Answer: A
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Operation on the basis of comparative advantages implies which of the following?
(a) Countries allocate their resources across all sectors regardless of opportunity costs. (b) Countries will specialize even if they can produce everything. (c) Countries not efficient in any production should not trade. (d) none of the above.
Starting from a pure exchange equilibrium, an increase in the demand for a commodity will result in:
a. a fall in the market price. b. a rise in the market price. c. a rise in the equilibrium output. d. a fall in the equilibrium output.
Investment equals inventory investment added to
A) business purchases of new capital goods. B) purchases of new residential housing. C) fixed investment. D) business purchases of new capital goods and purchases of new residential housing. E) either c or d
A weaker U.S. dollar leads to higher input prices for U.S. firms because
A. both imports of raw materials and intermediate goods are higher in prices. B. U.S. workers are willing to work for less pay because of the weaker U.S. dollar. C. both exports of raw materials and intermediate goods are higher in prices. D. U.S. producers of intermediate goods raise prices in order to benefit from the weaker dollar.