Instead, assume that global economic expansion causes the quantity of tin demanded to increase by 4 million pounds at each price To maintain price of tin at the target price you would ?

Related Mcqs:

1. Assume that global recession causes the quantity of tin demanded to decrease by 4 million pounds at each price To maintain the price of tin at the target price you would ?

   A. sell 4 million pounds of tin
   B. sell 8 million pounds of tin
   C. buy 4 million pounds of tin
   D. buy 8 million pounds of tin

2. Suppose that the world price of tin is above the target (ceiling) price that is defined by an international commodity agreement. To move the world price toward the target price, a buffer stock agreement would require its buffer stock manager to ____ tin and an export quota agreement would require that member countries _________ their export of tin?

   A. purchase; decrease
   B. purchase; increase
   C. sell; increase
   D. sell; decrease

3. Suppose that the supply curve of tin is highly inelastic. If the demand curve of tin decrease and increase cyclically along the supply curve of tin, then in this market the size of the quantity fluctuation will bathe size of the price fluctuations ?

   A. relatively greater than
   B. relatively less than
   C. the same as
   D. Any of the above

4. Suppose that the demand curve for tin is highly inelastic. If the supply curve of tin decrease and increase cyclically along the demand curve for tin then in this market the size of the price fluctuation will be __________ the size of the quantity fluctuations?

   A. relatively greater then
   B. relatively less than
   C. the same as
   D. any of the above

5. Prices that do not always adjust rapidly to maintain equality between quantity supplied and quantity demanded are ?

   A. market prices
   B. sticky prices
   C. fixed prices
   D. regulatory prices

6. If the quantity demanded of beef increases by 5% when the price of chicken increase by 20% the cross-price elasticity of demand between beef and chicken is ?

   A. -4
   B. 0.25
   C. 4
   D. -0.25

7. If the exchange rate between Swiss francs and British pounds is 5 francs per pound, then the number of pounds that can be obtained for 200 francs equals ?

   A. 20 pounds
   B. 40 pounds
   C. 60 pounds
   D. 80 pounds

8. If an increase in a consumer’s income causes the consumers to decrease her quantity demanded of a good, then the good is ?

   A. a substitute good
   B. a normal good
   C. a complementary good
   D. an inferior good

9. In the Px = export price index, Pm = import price index, Qx = export quantity index,and Qm = import quantity index. Developing countries tend to maintain that their commodity term of trade have declined over the long run suggesting that _________ has declined?

   A. Px/Pm
   B. Pm/Px
   C. (Pm/Px)Qm
   D. (Px/Pm)Qx

10. The price of burgers increase by 22% and the quantity of burgers demanded falls by 25% This indicates that demand for burgers is ____________?

    A. elastic
    B. perfectly elastic
    C. unitarily elastic
    D. inelastic.