If Sean sells Tom a tennis racket for $50, we would expect

a. both parties to gain from this transaction.
b. Sean to gain from the transaction, while Tom loses.
c. Tom to gain from the transaction, while Sean loses.
d. the well-being of both parties to be unchanged.

A

Economics

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In the two-country model of the Monetary Approach, the spot exchange rate is determined by

A) the relative quantities of money supplied and demanded. B) the real money stock in country A vs. country B. C) the nominal incomes in the two countries. D) the ratio of prices in the economies.

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If the price of automobiles were to decrease substantially, the demand curve for pizza would most likely

A) shift rightward. B) shift leftward. C) remain unchanged. D) remain unchanged while quantity demanded would change.

Economics