Economics Questions
Explore questions in the Economics category that you can ask Spark.E!
EXCHANGE RATE: If British pounds sell for $1.53 (U.S.) per pound, what should dollars sell for in pounds per dollar?
If the euro depreciates against the U.S. dollar, can a dollar buy more or fewer euros as a result?
If the United States imports more goods from abroad than it exports, foreigners will tend to have a surplus of U.S. dollars. What will this do to the value of the dollar with respect to foreign currencies? What is the corresponding effect on foreign investments in the United States?
What is the fundamental problem of economics?
How many districts is the US divided into by the Federal Reserve Act?
who is the person who claims that an "invisible hand" would guide competition and they wrote Wealth of Nations
Economists call the maximum price that a buyer is willing to pay the _____ price
Which of the following statements are true if the price is artificially low and some transactions no longer take place?
When a perfectly competitive, well-functioning market maximizes total surplus, the market is said to be
At prices above or below the market equilibrium price, fewer trades take place. When compared to a market at the equilibrium price, the value that would have been gained from voluntary trades
Sellers' willingness to sell is determined by the _______ cost of the sale.
The relationship showing producers' willingness to sell is the ____ curve.
When the price is raised above the equilibrium price, although sellers lose some well-being because there are fewer transactions taking place
The _____________ cost of selling a product is the use or enjoyment that the seller could get from keeping the product or from doing something else with the money that would be required to make it.
he demand curve is a line showing the _________ willingness to pay for all buyers.
Some amount of producer surplus is transferred to consumers
A line showing the maximum willingness to pay for all buyers is the ____ curve.
To describe the overall benefits that buyers received in a market, we can add up each individual's ___________ surplus.
Why do governments allow patents when it can create a monopoly?
What if someone is not employed or unemployed? Are they in the labor force?