If the Fed buys Treasury bills, this will shift the
A) money supply curve to the right.
B) money supply curve to the left.
C) money demand curve to the right.
D) money demand curve to the left.
Answer: A
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If the expenditure schedule must be shifted upward to reach potential GDP, then the economy is experiencing a(n)
a. inflationary gap. b. precautionary gap. c. recessionary gap. d. expansionary gap.
Refer to the information provided in Table 33.6 below to answer the question(s) that follow.
Table 33.6
Refer to Table 33.6. If the exchange rate is $1 = 2 euros, then
A. France will import both peas and carrots. B. the United States will import both peas and carrots. C. France will import peas. D. the United States will import peas and France will import carrots.
Suppose the conditions of the first welfare theorem hold. If the government redistributes income prior to production and trade occurring, the market outcome (resulting from production and trade) will be the same as it would have been had the government not redistributed income (so long as redistribution does not produce deadweight losses).
Answer the following statement true (T) or false (F)
The marginal cost and total revenue of a firm are $5 and $275, respectively. The reservation value of the seller in this case is ________
A) $0 B) $5 C) $55 D) $275