Suppose that an economy has 10 basic goods and services. If it were a barter economy it would need
A. more than four times as many prices as money economy.
B. more than twice as many prices as a money economy.
C. as many prices as a money economy.
D. half as many prices as a money economy.
A. more than four times as many prices as money economy.
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Suppose the Fed buys $1 billion worth of bonds and the required reserve ratio is 20%. In the theoretical limit, the money supply could
A) decrease by $1 billion. B) increase by $1 billion. C) increase by $5 billion. D) decrease by $5 billion.
When comparing perfect competition and monopolistic competition, we find that
A) firms in monopolistic competition produce identical products just as do firms in perfect competition. B) firms in monopolistic competition face barriers to entry, unlike firms in perfect competition. C) advertising plays a large role in monopolistic competition, unlike in perfect competition. D) firms in monopolistic competition are price takers just as is the case for firms in perfect competition.
Suppose that elasticity has been reliably measured as 1.55 and the unit price decreases from $20 to $17.50 . How much will quantity demanded increase?
In 2008, about ____% of all American children under 6 in a family headed by a female lived in poverty.
A. 25 B. 32 C. 44 D. 53