Refer to the accompanying figure. If the price is $4 today and there is no change in either supply or demand, one would expect the price in the future to be:
A. less than $4.
B. greater than $4.
C. greater than $6.
D. $4.
Answer: B
You might also like to view...
Tracy and Amy are playing a game in which Tracy has the first move at X in the decision tree shown below. Once Tracy has chosen either the top or bottom branch at X, Amy, who can see what Tracy has chosen, must choose the top or bottom branch at Y or Z. Both players know the payoffs at the end of each branch. 
If before Tracy chose, Amy could make a credible commitment to choose either the top or bottom branch when her turn came, then Amy would commit to the ________ branch and Tracy would choose the ________ branch.
A. top; top B. top; bottom C. bottom; bottom D. bottom; top
Why did the classical economists think that large-scale unemployment was not possible in a market economy?
What will be an ideal response?
Suppose there are two countries that are identical in every way with the following exception: Country A has a lower depreciation rate (?) than country B. Given this information, we know with certainty that
A) the growth rate will be the same in the two countries. B) the growth rate will be higher in A than in B. C) K/N will be higher in B. D) Y/N will be higher in B.
Refer to the information provided in Table 22.6 below to answer the question(s) that follow.
Table 22.6
Refer to Table 22.6. If 2015 is the base period, the price index in 2014 is
A. 81.2. B. 86.8. C. 118.8. D. 123.2.