Products produced domestically and sold in foreign countries are called ________, and products produced in foreign countries and sold domestically are called ________
Fill in the blank(s) with correct word
exports; imports
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As the baby boomers in America grow old, how would the market for health-care workers be affected?
A. Supply increases and wages decrease. B. Supply decreases and wages increase. C. Demand decreases and wages decrease. D. Demand increases and wages increase.
The market demand for MP3 player is p = 50 - 0.5Q, and the marginal cost for Nick to obtain and sell a MP3 player is $10
If he receives $12 for each MP3 player he sells from the store owner and the store owner controls the quantity of MP3's available for sale, then A) 40 MP3 players will be sold. B) joint profit is $798. C) joint profit will be maximized. D) Nick will sell as many as he can.
Which of the following statements is correct?
a. Total surplus is the sum of consumer and producer surplus. b. Deadweight loss is the net loss of both consumer and producer surplus resulting from underproduction or overproduction of a product. c. Deadweight loss is a measure of market inefficiency. d. All of these.
An open market purchase of bonds by the Fed
a. will shift the money supply curve to the left. b. will drain reserves from the banking system and shift the money supply curve to the right. c. will inject reserves into the banking system and shift the money supply curve to the left. d. will shift the money supply curve to the right. e. will change the slope of the money supply curve.