In the above figure, which curve is an indifference curve for someone who views frozen pizzas and milk as perfect complements?
A) indifference curve F
B) indifference curve G
C) indifference curve H
D) indifference curve I
D
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Answer the next question based on the following consolidated balance sheet for the commercial banking system.AssetsLiabilities + Net WorthReserves$50,000Checkable deposits$120,000Loans75,000Stock shares130,000Securities25,000 Property100,000 If the reserve requirement is 10%, and the above data is the balance sheet for the entire banking sector, then the maximum amount by which the commercial banking system can expand the supply of money by lending is
A. $120,000. B. $380,000. C. $700,000. D. $440,000.
A difference between a quota and a tariff is that
A) a tariff generates a higher price than does a quota. B) a tariff generates a greater reduction in exports than does a quota. C) a quota increases profits of domestic producers more than does a tariff. D) the government collects revenue from a tariff but does not collect revenue from a quota.
Sally is an average shopper, with average income. When she is in the store she buys a few items which cost more than $20, several items which cost between $5 and $20, and many items which cost less than $1 . The price elasticity of Sally's demand for these goods most likely ____
a. increases as the price decreases b. decreases as the price decreases c. increases as the price increases d. decreases as the price increases e. remains constant over all price ranges
Is it possible to have a GDP deflator of less than 100?
A. Yes, it would indicate a year when prices were lower than in the base year. B. Yes, it would indicate a year when output was lower than in the base year. C. No, that is mathematically impossible for the deflator to be less than 100. D. Yes, it would indicate a year when prices were lower than in the previous year.