What percentage of the M2 measure of money is currency?
A. five.
B. ten.
C. fifteen.
D. twenty.
B. ten.
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Consider the demand curves for soft drinks shown in the figure above. A movement from point a to point b represents
A) a decrease in quantity demanded. B) an increase in demand. C) an increase in quantity demanded. D) a decrease in demand.
A consumer is likely to avoid adverse selection and get a high-quality lunch at
A) a snack bar at a traveling carnival. B) a vendor who parks her cart at a different location every noon. C) a restaurant in the center of a business district. D) a restaurant located next door to Disneyland.
Comparative advantage explains why a nation will benefit from trade when:
a. it exports more than it imports. b. its trading partners are experiencing offsetting losses. c. it exports goods for which it is a high-opportunity cost producer, while importing those for which it is a low-opportunity cost producer. d. it exports goods for which it is a low-opportunity cost producer, while importing those for which it is a high-opportunity cost producer.
Figure 5-18
In Figure 5-18, point D for the consumer
a.
will be chosen because total utility is larger there than at point C.
b.
would not be chosen because it is less desirable than point C.
c.
is unattainable, given the consumer's budget.
d.
has total utility equal to point C.