The above figure shows four different markets with changes in either the supply curve or the demand curve
Assuming coffee and tea are substitutes, which graph best illustrates the market for tea after severe weather destroys a large portion of the coffee crop? A) Graph A
B) Graph B
C) Graph C
D) Graph D
A
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Jane's utility function is represented as: U = F0.5 C0.5, F is quantity of food and C is quantity of clothing. If her budget constraint is represented as: 120 = 2F + C, her optimal bundle of consumption should be
A) (40F, 40C). B) (20F, 60C). C) (50F, 50C). D) (45F, 20C).
Which of the following is true concerning unilateral transfers in the U.S. balance of payments?
a. Unilateral transfers have been positive since World War II. b. Unilateral transfers have been negative since World War II. c. Unilateral transfers have been negative every year since World War II except during the war in Iraq. d. The United States places tight restrictions on moneys being sent out of the country. e. Developing countries ordinarily place no restrictions on moneys being sent out of their countries.