Refer to Figure 4-1. If the market price is $2.00, what is the consumer surplus on the first burrito?
A) $0.50 B) $1.00 C) $2.00 D) $7.50
A
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Without any change in the supply of labor, how are the following events likely to change the equilibrium wage and employment level in a firm that manufactures umbrellas?
a) A forecast of higher rainfall this year b) A decrease in the price of raincoats c) The introduction of labor-saving technology in the factory
The current account
A) measures our exports minus our imports taking into account interest payments paid to and received from the rest of the world. B) measures our imports minus our exports. C) does not account for interest payments paid to and received from the rest of the world. D) is part of GDP.
Suppose the demand for Tesla cars decreases and the supply of Teslas increases. What effect will it have on the equilibrium price for Tesla cars?
a. There will be no change b. Uncertain c. It will fall d. It will rise
If domestic saving is less than domestic investment, then a country will have a ________ and positive net capital ________.
A. trade surplus; outflows B. trade deficit; inflows C. trade balance; inflows D. trade deficit; outflows