Direct controls have a clear advantage when a total ban is necessary
a. True
b. False
Indicate whether the statement is true or false
True
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If a tax is imposed on each unit of a good purchased, ________
A) the supply curve shifts to the right B) the supply curve shifts to the left C) the demand curve shifts to the right D) the demand curve shifts to the left
A decrease in the value of a country's currency is known as ________
A) a spot exchange rate B) a depreciation of its value C) an appreciation of its value D) a forward spotting
On the graph above, an example of a positive demand shock is the movement from point ________ to point ________
A) F; G B) H; I C) F; H D) H; F E) none of the above
The figure below shows the supply and demand curves for oranges in Smallville.
At the price of $4 per pound, sellers offer ________ pounds of oranges per day, and buyers want to purchase ________ pounds of oranges a day.
A. 10; 20 B. 10; 30 C. 20; 20 D. 30; 10