Use the following table to answer the question below for Country Y. Column 1 is the price of a product, Column 2 is the quantity demanded domestically (Qdd), and Column 3 is the quantity supplied domestically (Qsd).PriceQddQsd$9.002504508.003004007.003503506.00400300At what price will Country Y export 100 units of the product?
A. $7.00
B. $9.00
C. $6.00
D. $8.00
Answer: D
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Refer to the scenario above. Using 2012 as the base year, what is the real GDP of the economy in 2013?
A) $49,500 B) $55,000 C) $47,000 D) $56,000
The reserve ratio equals 20 percent. The Fed buys $1 million in U.S. government securities. The most the money supply can increase is
A) $5 million. B) $4 million. C) $10 million. D) $1 million.
The components of the U.S. current account balance are:
a. goods, services, expense receipts and payments, and unilateral transfer. b. goods, services, income receipts and payments, and unilateral transfer. c. goods, services, and unilateral transfer. d. income receipts and payments, and unilateral transfer.
Monopolistic competition tends to lead firms to have wasted capacity. Why?
What will be an ideal response?