A balance of payments surplus occurs if
A) the supply of a nation's currency is equal to the demand for the currency at the current exchange rate.
B) exports exceed imports.
C) the supply of a nation's currency exceeds the demand for the currency at the current exchange rate.
D) the demand for a nation's currency exceeds the supply of the currency at the current exchange rate.
D
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A decrease in the long-run average total cost as output increases is due to
A. a declining average fixed cost. B. externalities. C. the law of diminishing returns. D. economies of scale.
Refer to Table 2-3. Dina faces ________ opportunity costs in the production of sliders and hot wings
A) negative B) constant C) increasing D) decreasing
If consumer income and prices increase by the same percentage,
A) the consumer will buy more of both goods. B) the consumer will buy more of both goods if they are both normal goods. C) the consumer will buy less of both goods if they are both inferior goods. D) the consumer's utility maximizing bundle stays the same.
The tradeoffs and connections between the goals of macroeconomics may be ___________ in the short run and the long run.
a. similar b. different c. identical d. problematic