The world price of a commodity will settle at the level where
A. supply and demand are equal within each country.
B. the excess demand of the importing country is equal to the excess supply of the exporting country.
C. the excess demand in the exporting country is equal to the excess demand in the importing country.
D. there is no excess demand in the exporting country.
Answer: B
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In the above table, the average product is less than the marginal product
A) when the first worker is hired. B) when the second worker is hired. C) when the third worker is hired. D) for the entire range of output given.
Higher government deficits ________ the supply of bonds and shift the supply curve to the ________, everything else held constant
A) increase; left B) increase; right C) decrease; left D) decrease; right
Increased liquidity in recent decades has reduced interest rates on which of the following assets (holding constant all other things that affect interest rates)?
A) U.S. government bonds B) bonds issued by large corporations C) business loans D) bonds issued by state governments
Some economists argue that corporate income taxes are typically not paid by firms, but by
A) stockholders, employees, and consumers. B) the government. C) bond holders. D) the board of directors of the firm.