Which of the following would shift the entire supply curve for electricity to the left?
a. a decrease in the price per unit of electricity
b. a decrease in the price of coal used to generate electricity
c. new EPA regulations that force the closing of the worst polluting coal-burning power plants
d. a decrease in the price of alternative forms of energy
e. a technological improvement that reduces the cost of producing electricity
C
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In 1991, Congress levied a 10 percent luxury tax on yachts over $100,000 . The tax brought in far less than was anticipated, they must have passed the legislation thinking the demand for yachts was more ___ than it actually was
a. elastic b. inelastic c. unit elastic d. none of the above
In which of the following situations would supply be the most elastic?
a. An auto parts manufacturer is operating at capacity. b. A real estate developer in Boston is looking to build condos on the waterfront. c. A furniture manufacturer is operating its factory 8 hours per day. d. A hotel has all of its rooms booked for each night of the next 3 months.
Explain the effects of expansionary monetary policy on a country's balance of payments and real product and income with floating exchange rates.
What will be an ideal response?
The best exchange rate system:
A. is a fixed exchange rate system. B. is a flexible exchange rate system. C. has not yet been determined. D. is a partially-fixed exchange rate system.