Society will produce ________ if price and marginal cost are equated for all firms.

If Country A opens up their corn market to trade with the rest of the world and the global price of corn is higher than the equilibrium price of corn in Country A, then Country A will ________ corn, which will ________ consumer surplus, ________

producer surplus, and ________ total surplus. A) import; increase; decrease; increase B) import; decrease; increase; increase C) export; increase; decrease; increase D) export; decrease; increase; increase E) export; decrease; increase; decrease

Suppose that all banks maintain a 100 percent reserve ratio. If an individual deposits $ 3,000 of currency in a bank,

A. the money supply is unaffected. B. the money supply rises by more than $3,000. C. the money supply rises by less than $3,000. D. the money supply decreased by less than $3,000.