A market maker faces the following demand and supply for widgets. Eleven buyers are willing to buy at the following prices: $15, $14, $13, $12, $11, $10, $9, $8, $7, $6, $5 . Eleven sellers are also willing to sell at the same prices. If the market maker wants to make three transactions, what should he ask (the buyers)

Suppose Canada can produce 100,000 hockey sticks or 10,000 gallons of maple syrup in a week, while Germany can produce 90,000 hockey sticks or 10,000 gallons of maple syrup in a week. Which of the following conclusions is likely to be made? a. Canada has a comparative advantage in the production of hockey sticks. b. Germany has a comparative advantage in the production of hockey sticks. c

Canada has an absolute advantage in the production of maple syrup. d. Germany has an absolute advantage in the production of maple syrup.

Assume the central bank pursues contractionary monetary policy. What is the first round effect on the value of the domestic currency, if there is low mobility in the international capital markets?

a. The value of the currency rises. b. The value of the currency falls. c. The value of the currency is unaffected. d. The change in the value of the currency is ambiguous.