Noah values his car at $10,000, and Emily values it at $14,000 . If Emily buys it from Noah for $11,000, which of the following is true?
a. Noah gains $1,000 of value, and Emily gains $3,000 of value.
b. Noah gains $11,000 of value, and Emily loses $11,000 of value.
c. Noah gains $10,000 of value, and Emily loses $14,000 of value.
d. Noah and Emily both gain $11,000 of value.
A
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The net-export effect of contractionary monetary policy is a(n)
A) depreciation of the value of the dollar and the increase of U.S. net exports. B) depreciation of the value of the dollar and the decrease of U.S. net exports. C) appreciation of the value of the dollar and the increase of U.S. net exports. D) appreciation of the value of the dollar and the decrease of U.S. net exports.
The official poverty rate for the United States is currently set at ____ times the cost of providing a nutritionally adequate diet
a. two b. three c. five d. eight
A firm operating in a purely competitive resource market faces a resource supply curve that is:
A. perfectly inelastic. B. perfectly elastic. C. highly inelastic. D. highly elastic.
Studies of the income tax show that its burden as a percentage of income
A. remains about the same as income increases. B. rises slightly as income rises. C. initially increases and then decreases as income increases. D. decreases as income rises.