Ann, a U.S. citizen, uses some previously obtained euros to purchase a bond issued by a Spanish company. This transaction
a. increases U.S. net capital outflow by more than the value of the bond.
b. increases U.S. net capital outflow by the value of the bond.
c. does not change U.S. net capital outflow.
d. decreases U.S. net capital outflow.
c
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Maximizing total revenue is the same as maximizing profit
a. True b. False
Rent-seeking activity
a. is any revenue associated with long-term leases b. is any costly action a firm undertakes to acquire or maintain monopoly power c. is an attempt to inflate costs and reduce tax liabilities d. occurs when a monopoly leases out some of its assets e. is any rational action a consumer undertakes in seeking the lowest rent
If the price of food falls by 10 percent and the quantity sold increases by 5 percent, then the price elasticity of demand in that range equals
a. 2, and demand is elastic b. 0.5, and demand is elastic c. 2, and demand is inelastic d. 0.5, and demand is inelastic e. 15, and demand is elastic
An increase in consumer income will shift both the supply and demand curves
a. True b. False Indicate whether the statement is true or false