A good's Demand Curve is QD = 50 - 2P, and its Supply Curve is QS = 40 + P
a. When P = $10, what is the difference, if any, between QD and QS?
b. When P = $2, what is the difference, if any, between QD and QS?
c. What are the equilibrium values of P and Q?
a. QD = 30 and QS = 50
b. QD = 46 and QS = 42
c. Q = 43.33 and P = $3.33
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A French tourist spent $1,200 in the U.S this year. This transaction will lead to a(n) ________
A) decrease in the GDP of U.S. B) increase in the GDP of France C) decrease in the GDP of France D) increase in the GDP of U.S.
Under fixed exchange rate, in general
A) the domestic and foreign interest rates are equal, R = R . B) R = R + (Ee - E)/E. C) the foreign and domestic interest rates are unequal. D) the expected rate of domestic currency depreciation is high. E) the expected rate of currency depreciation is one.
The more specialized labor becomes, the:
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One strategic barrier that may keep new firms out of a market is
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