Both the demand for and supply of cars changes in France. You observe that the quantity of cars does not change but the price rises. Thus, which of the following occurred?
A) Demand increased and supply decreased by an equal amount.
B) Demand and supply increased by an equal amount.
C) Demand and supply decreased by an equal amount.
D) Demand increased by a larger magnitude than supply decreased.
E) Demand decreased and supply increased by an equal amount.
A
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In 1941 Henry Luce coined the term ______________________ to describe the magnitude of America's economic and military prowess.
Fill in the blank(s) with the appropriate word(s).
Direct controls imposing identical emission limits on all polluters are
A) efficient if emissions can be accurately monitored, which is seldom possible. B) equitable because all polluters bear equal costs. C) likely to require a great deal of high-cost pollution reduction. D) more efficient and equitable than a system of fines because fines matter less to large than to small polluters.
Based on information from the U.S. Census, which of the following statements is true?
a. Black women and white women with similar levels of education and experience earn similar pay. b. Blacks and whites have lower levels of educational attainment than Hispanics and Asians. c. Whites and Hispanics have higher levels of educational attainment than Asians and blacks. d. White and black college graduates earn significantly different salaries immediately after college.
Use the following diagram to answer the next question.
Assume the economy is initially at the full employment level of real GDP. If there is a decrease in imports, the Fed should ________.
A. increase the money supply B. increase money demand C. decrease money demand D. decrease the money supply