Tag: Economics – Others

Initially, the equilibrium price in a market is $20. After a $10 per unit tax is applied, buyers pay $26 per unit and sellers receive $16 per unit. Which of the following are true statements?

Bintu’s opportunity cost of producing bowls is than Juba’s, and if they decide to specialize and trade, should produce bowls.
Group of answer choices
lower
Jubalower
Bintuhigher
Jubahigher
Bintu

Question 18 (5 points)
The Second Industrial Revolution that followed the Civil War was characterized by which of the following?
rampant consumerism
mass production of goods
a consumer-driven economy

Multiple Choice QuestionA(n) ◻ economy is made up of the elements of more than one economic system, with some industries owned by the government and some privately owned.blendedmixeddividedhybrid

To increase and decrease the supply of money, the central bank:a. prints and burns money, respectively.b. buy bonds.c. buys and sells bonds, respectively.d. sells and buys bonds, respectively.

What do we call the media model in which people believe that the public ignores the media or onlybelieves what they witness themselves?
Monopoly model
Selective model
Minimal effects model
Naive model

When market failure occurs, it often creates an incentive for
more information.
government intervention into the market.
income equity across the market.
more competition to develop in the market.

Suppose money growth is 2 percent, nominal spending growth is 6 percent, and real output growth averages 2 percent. This implies that inflation averages:
2 percent
4 percent
6 percent
8 percent

Compare the nominal and real exchange rate of an open economy. If you were todecide whether to buy domestic goods or foreign goods, which rate would be morerelevant? Explain and provide an example

Amendments to the Texas constitution require
approval by a majority of the Texas house and senate
approval by the governor
majority approval from voters
approval by two-thirds of the U.S. Congress