Econville opens up trade with its neighboring countries. This causes the number of sellers of science fiction novels to increase. What happens to the equilibrium price and quantity?
a. Price and quantity both increase.
b. Price decreases, and quantity increases.
c. Price increases, and quantity decreases.
d. Price and quantity both decrease.
b. Price decreases, and quantity increases.
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Based on this figure, if the krone exchange rate is fixed at $0.15 dollars per krone, then the krone is: 
A. overvalued B. undervalued C. devalued D. revalued
If the marginal cost of producing vanity license plates is virtually zero (by prison inmates with little else to do), then states would maximize their profits on plate sales at the point on a linear demand curve where
A. demand is inelastic. B. demand is elastic. C. demand is unit elastic. D. the demand curve crosses the horizontal axis.
The central bank of Vervia buys and sells government bonds to alter the level of money supply in the country. This method of controlling the money supply is known as: a. crowding out
b. forward guidance. c. open market operations. d. quantitative easing.
Profit per unit can be expressed as price ? cost per unit.
Answer the following statement true (T) or false (F)