If Country A exports a good to Country B, who is made better off?
a. The producers in Country A and the consumers in Country B
b. The consumers in Country A and the consumers in Country B
c. The producers in Country A and the producers in Country B
d. The consumers in Country A and the producers in Country B
e. Only the consumers in Country A will benefit from this trade agreement
A
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Lizzie's budget line is shown in the figure above. If the price of a cookie falls, the budget line
A) shifts rightward and its slope does not change. B) shifts leftward and its slope does not change. C) becomes flatter. D) becomes steeper.
For any value of the required reserve ratio (RRR), the demand deposit multiplier is
a. 1/RRR b. 1 - (1/RRR) c. RRR multiplied by the change in reserves d. 1 - RRR e. (1/RRR) -1
Though the owners of NFL and MLB teams may be able to show that they lose money each year, economists who study the subject insist that they
A. lose the same amount as they do in their other businesses. B. lose money only if they lose games. C. are using phony accounting tricks to come up with those losses, and that every franchise makes money. D. still make money because they can sell their team for much more than they paid for it.
If the price system is allowed to function without interference and a surplus occurs, quantity demanded will _____________ and quantity supplied will _____________ until the price falls to its equilibrium.
A. rise; rise B. fall; fall C. rise; fall D. fall; rise