Can you answer all questions and justify your answers 19.What could explain a decrease in demand for sugar cane?Demand for sugar has increased.New techniques of producing substitutes for sugar have been introduced.Productivity of sugar cane plantations has increased.The area of land on which sugar cane is grown has increased.A.В.С.D.[1]In 2015 The Bahamas hosted the IAAF World Relays which attracted a large number of visitorsfrom foreign countries. Which item of The Bahamas'current account balance would have benefitteddirectly from the hosting of this event?20.export trade in goodsexport trade in servicesimport trade in goodsimport trade in servicesA.В.С.D.[1]21.What best describes barter and money in the diagram given?Barter is an effective means of exchange that gave way to money.Barter is the swopping of goods and services for goods and services; whereas money is amedium of exchange.Barter is limited in supply but money is unlimited in supply.Barter is an acceptable means of exchange whereas money is cumbersome.A.В.С.D.[1]22.All of the following are important characteristics of money exceptA.divisibleВ.durableС.generally acceptedunlimitedD.[1]587110 -5-15.Which of the following is an instrument of monetary policy?adjustment of Value Added Tax ratesan incomes policychanging the rate of interestintroduction of import restrictionsА.B.С.[1]D.The retail price index of a country rose during a year from 200 to 240. What was the annual rate ofinflation?16.A.20%В.40%С.240%[1]D.440%17.What increase might cause the surplus on the current account of The Bahamas to increase?purchases of cars from Japanspending by Bahamians on holidays in Cubaspending by tourists in Bahamian hotelsthe transport of Bahamian goods in United States' shipsA.В.С.D.[1]18.The diagram shows the supply curve for a good.Price(S)102030Quantity (units)What is the price elasticity of supply for this good when the price rises from $2 to $4?А.0.2В.0.5С.1D.[1]587110[Turn over

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19. What could explain a decrease in demand for sugar cane? Demand for sugar has increased. New techniques of producing substitutes for sugar have been introduced. Productivity of sugar cane plantations has increased. The area of land on which sugar cane is grown has increased. А. В. С. D.

19. What could explain a decrease in demand for sugar cane? Demand for sugar has increased. New techniques of producing substitutes for sugar have been introduced. Productivity of sugar cane plantations has increased. The area of land on which sugar cane is grown has increased. А. В. С. D.

Principles of Economics (MindTap Course List)

8th Edition

ISBN:9781305585126

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter36: Six Debates Over Macroeconomic Policy

Section: Chapter Questions

Problem 3PA

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5) Use appropriate formulas to derive the following conclusion " A rise in thecountry's expected inflation rate will eventually cause an equal rise in the in-terest rate that deposits of the currency offer." (Explain what approaches ortheorems you are applying in each step in your derivation )
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