The marginal rate of substitution is measured along
A. a given indifference curve.
B. the demand curve.
C. the total utility curve.
D. a given budget line.
Answer: A
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A decrease in supply will have what effect on equilibrium price and quantity?
A. Price will increase; quantity will decrease. B. Price will decrease; quantity will increase. C. Both price and quantity will increase. D. Both price and quantity will decrease.
Break-even analysis usually assumes all of the following except:
a. in the short run, there is no distinction between variable and fixed costs. b. revenue and cost curves are straight-lines throughout the analysis. c. there appears to be perfect competition since the price is considered to remain the same regardless of quantity. d. the straight-line cost curve implies that marginal cost is constant. e. both c and d
Which one of the following would create a demand for a foreign currency and supply of dollars in the foreign exchange market?
a. the sale of U.S. automobiles to a Mexican consumer b. the spending by British tourists in the United States c. the purchase of 1,000 shares of IBM stock by a Latin American investor d. the purchase of Japanese televisions by an American distributor
Which of the following statements is most correct?
A. If the U.S. $ is depreciating relative to the euro it is likely depreciating relative to all currencies. B. If the U.S. $ is appreciating relative to the euro, the euro is likely depreciating relative to the yen. C. If the U.S. $ depreciates relative to the yen, then it is likely also depreciating relative to the euro. D. If the U.S. $ is appreciating relative to the yen, the yen is depreciating relative to the U.S. $.