According to the graph shown, if this were depicting an autarky economy, the amount being sold domestically is:
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
A. 45.
B. 85.
C. 120.
D. 75.
B. 85.
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An increase in the number of consumers, all else held constant, will shift the
a. supply curve leftward. b. demand curve leftward. c. supply curve to the right. d. demand curve to the right.
When one country has higher nominal interest rates than another country, the high-interest-rate currency is expected to ________ relative to the low-interest-rate currency
A) depreciate B) appreciate C) stay constant D) None of the above
Refer to Scenario 17.4. Moral hazard would be eliminated in this situation if
A) the insurer would always charge $5000. B) the insurer would always charge $10,000. C) the insurer could costlessly monitor whether a flood control system is in place, and adjust the premium upward if it is not. D) the insurer could costlessly monitor whether a flood control system is in place, and adjust the premium downward if it is not. E) the flood did not occur.
A health club sells 50 memberships when the monthly price is $60 and 70 memberships when the monthly price is $40 . The price elasticity of demand for memberships at this health club is (using the average values method):
a. 0.25. b. 0.6. c. 1.0. d. 1.1. e. 0.83