Refer to the table. Exports might be ____ and imports ____.
A. $10; $5
B. $10; $0
C. $0; $5
D. $5; 10
A. $10; $5
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If the Federal Reserve purchases $1 million in government securities in the open market, with a 25 percent required reserve ratio on deposits, the maximum increase in deposits would be
a. $4 million. b. $10 million. c. $25 million. d. -$4 million. e. none of the above
If the tax on each Snicker's bar is 10 percent of its price, than that tax is a
a. sales tax b. unit tax c. corporate tax d. progressive tax e. estate tax
If the minimum wage is set above the equilibrium wage, then
A) more people will work than at the equilibrium wage. B) the same number of people will work as at the equilibrium wage. C) fewer people will want to work than at the equilibrium wage. D) there will be fewer labor hours purchased by employers than at the equilibrium wage. E) none of the above
In the following question you are asked to determine, other things equal, the effects of a given change in a determinant of demand or supply for product X upon (1) the demand (D) for, or supply (S) of, X; (2) the equilibrium price (P) of X; and (3) the equilibrium quantity (Q) of X.Consumers expect that the price of X will rise sharply in the future. At the same time, technology used in producing X improves. When both of these occur, what outcome will occur with greatest certainty?
A. increase D, increase S, increase P, and increase Q. B. increase D, decrease S, increase P, and effect on Q uncertain. C. increase D, increase S, decrease P, and increase Q. D. increase D, increase S, increase Q, and effect on P uncertain.