A supply curve shows
A) the quantities sold at different prices.
B) the marginal cost of producing one more unit of a good or service.
C) the marginal benefit from buying one more unit of a good or service.
D) the total cost of producing different quantities of a good or service.
Answer: B
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To determine whether a nation has an "abundance" of a resource, economists look at:
a. the exports of the nation. b. the imports of the nation. the total quantity of that resource compared with c. the total quantity of the other resource. d. a nation's share of the resource compared with its share of world GDP
Assume that M is $300 billion and V is 10. What is the level of nominal GDP according to the monetarist equation? If V rises by 10%, then according to the monetarist equation, what will be the new level of nominal GDP?
What will be an ideal response?