If a currency decreases in value in response to market forces, this process is known as
A. devaluation.
B. depreciation.
C. deflation.
D. degeneration.
Answer: B
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In the figure above, if a tax is imposed that generates an efficient allocation of resources, then consumers will pay a price of
A) $250 per unit. B) $200 per unit. C) $150 per unit. D) $100 per unit.
Externalities
A) are not reflected in market prices, so they can be a source of economic inefficiency. B) do become reflected in market prices, so they can be a source of economic inefficiency. C) are not reflected in market prices, so they do not adversely affect economic efficiency. D) do become reflected in market prices, so they do not adversely affect economic efficiency. E) may or may not become reflected in market prices, but do not have an impact on economic efficiency in either event.
Among the following cases, which one would be considered to be unemployed? Someone who
A. worked three days in the last month but is now out of work. B. is ready, willing, and able to work, but gave up looking for work three months ago. C. reported to the state employment office last week but is not very enthusiastic about finding a job.
In which of the following pairs of antitrust cases did the firms prevail against the antitrust charges leveled against them?
A. The Alcoa case and the Microsoft case. B. The U.S. Steel case and the Alcoa case. C. The DuPont cellophane case and the U.S. Steel case. D. The U.S. Steel case and the Microsoft case.