On the eve of the Civil War, what was the number one export in the U.S.?
(a) Cotton
(b) Wheat
(c) Gold
(d) Shipping services
(a)
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If a meteorologist discovers a new warming pattern is developing, and the new pattern will create a much larger-than-expected soybean harvest, she should ________ soybean futures
Other things constant, she is more likely to profit from her decision when ________ people are aware of the warming pattern and its consequences. A) buy; fewer B) sell; fewer C) sell; more D) buy; more
Because we cannot observe or measure utility
A) the predictions of marginal utility theory cannot be verified. B) marginal utility theory is incomplete and so its predictions might not be valid. C) marginal utility theory must be derived from assumptions about demand curves because demand curves can be measured. D) None of the above answers are correct.
Refer to Figure 4-10. What is the area that represents the producer surplus after the imposition of the ceiling?
A) F B) D + F + G C) A + B + D + F + G D) F + G
The Board of Governors of the Federal Reserve System is responsible for
a. approving changes in the discount rate. b. controlling monetary policy. c. administering discount lending. d. Both a and b e. All of the above