Every transaction concerning the exportation of U.S. goods constitutes a
A. supply of foreign currency and demand for dollars.
B. supply of foreign currency, with no effect on the market for dollars.
C. demand for dollars, with no effect on markets for foreign currencies.
D. demand for foreign currency and a supply of dollars.
Answer: A
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A public choice is
A) a decision that affects one person. B) a decision that affects no one. C) a decision made in public. D) a decision that affects an entire society.
The counterparty of someone buying a futures contract on the Chicago Board of Trade is::
A) Chicago Board of Trade B) hedger C) speculator D) trader
If the demand for a monopoly's output shifts leftward, the change in quantity produced is NOT predictable because
A) the monopoly is a profit maximizer. B) the monopoly is a price taker. C) the monopoly has no supply curve. D) the monopoly's marginal cost curve might not be upward sloping.
For the monopolist, marginal revenue is
A) equal to price. B) less than average revenue since price must be lowered to sell additional units. C) greater than price. D) not a consideration in the firm's pricing.