In a single month, the Russian ruble declined some 90 percent against the dollar. In Russia, which of the following policies could have slowed this decline?
A. A reduction in the money supply
B. An increase in the money supply
C. A reduction in income tax rates
D. An increase in income tax rates
Answer: A
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The above figure shows the market demand curve for telecommunication while driving one's car (time spent on the car phone). At the current price of 35ยข per minute, consumer surplus equals
A) $301. B) $924.50. C) $1,225.50. D) $1,250.
On a traditional supply and demand diagram,
a. price is measured along the horizontal axis and quantity along the vertical axis. b. price is measured along the vertical axis and quantity along the horizontal axis. c. quantity demanded is measured along the horizontal axis, quantity supplied is measured along the vertical axis, and price is indicated on the contour lines. d. quantity is measured along both axes and price is indicated on the contour lines.