A decrease in population shifts the production possibilities frontier outwards over time
Indicate whether the statement is true or false
FALSE
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Use the following figure to answer the next question.
At which point does marginal cost (MC) equal average variable cost (AVC)?
A. Point B B. Point C C. Point D D. Point A
Define comparative advantage and discuss its role in international trade
What will be an ideal response?
On a given day, the exchange rate for one U.S. dollar is 1.2 Canadian dollars and 0.5 British pounds. Exactly six months later, the exchange rate for one U.S. dollar is 1.1 Canadian dollars and 0.7 British pound. From the information given, we can say that:
a. the dollar has appreciated relative to Canadian dollars and depreciated relative to British pounds. b. the dollar has appreciated relative to British pounds and depreciated relative to Canadian dollars. c. the dollar has appreciated relative to both British pounds and Canadian dollars. d. the dollar has depreciated relative to both British pounds and Canadian dollars. e. there is no change in the relative value of the U.S. dollar.
According to the theory of liquidity preference,
a. if the interest rate is below the equilibrium level, then the quantity of money people want to hold is less than the quantity of money the Fed has created. b. if the interest rate is above the equilibrium level, then the quantity of money people want to hold is greater than the quantity of money the Fed has created. c. the demand for money is represented by a downward-sloping line on a supply-and-demand graph. d. All of the above are correct.