The voting paradox is an example of the
A. Tiebout hypothesis.
B. impossibility theorem.
C. the Coase theorem.
D. free-rider problem.
Answer: B
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The aggregate demand curve shifts to the right when there is ________
A) a negative price shock B) a decrease in the nominal interest rate C) a decrease in inflation D) all of the above E) none of the above
Money is a ________ and a transaction is a ________
A) stock; stock B) flow; flow C) flow; stock D) stock; flow
Suppose that the market for coffee is in equilibrium at a price of $9.50 per pound and a monthly quantity of 20 million pounds. News of a drought in Brazil arrives so that people know that the supply of coffee months from now will be sharply reduced
What, if anything, will happen in the coffee market now? Explain.
Free trade is a zero-sum activity because a country always gains at the expense of its trading partner.
Answer the following statement true (T) or false (F)