The effects of an increase in real money demand on an economy
A) is an argument against flexible exchange rates.
B) is an argument in favor of flexible exchange rates.
C) shows the difficulties in determining which exchange rate regime is better.
D) is an argument in favor of flexible exchange rates only in the short run.
E) is an argument against flexible exchange rates only in the short run.
A
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Suppose a production function is q = K1/2L1/3 and in the short run capital (K) is fixed at 100 . If the wage is $10 and the rental rate on capital is $20, the fixed cost is
a. $2,000 b. $200 c. $20,000 d. $0
A sales tax is an example of a(n)
a. payments tax b. property tax c. use tax d. excise tax e. company tax
Refer to the graphs shown. The market is fat-free potato chips that contain the fat substitute olestra. Which graph best represents the impact of increased consumer concern about the effects of olestra on long-term health?
A. Graph a B. Graph b C. Graph c D. Graph d
The total cost of the firm
A) includes explicit costs but excludes implicit costs. B) includes implicit costs but excludes explicit costs. C) includes implicit and explicit costs. D) includes implicit and explicit costs but excludes a normal rate of return on investment.