Suppose the domestic supply (QS) and demand (QD) for skateboards in the United States is represented by the following set of equations:QS = -60 + 3PQD = 390 - 2PIn the absence of international trade in skateboards how many skateboards will be sold in the United States?
A. 210
B. 930
C. 138
D. 258
Answer: A
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Pegging a country's exchange rate to the dollar can be advantageous in all of the following situations except
A) if investors believe the dollar to be more stable than the domestic country's currency. B) if a country wishes to conduct independent monetary policy. C) if imports are a significant fraction of the goods the country's consumers buy. D) if the country has extensive trade with the United States.
If the Mexican peso (MXN) to Brazilian real (BRL) exchange rate goes from 5.9 MXN/BRL to 7.2 MXN/BRL
A) Brazilians decrease their demand for Mexican goods. B) Brazilians increase their demand for Mexican goods. C) Mexicans increase their demand for Brazilian goods. D) Not enough information to determine what happens.
If a firm can double inputs and, thereby, more than double output over the range of output the market demands, it is a
a. natural monopoly b. local monopoly c. price discrimination monopoly d. monopsony e. candidate for antitrust prosecution
The financial crisis that began in late 2007 ended which era?
A. The Great Recovery B. The Golden era C. The Great Moderation D. The Great Recession