In 2011, a dollar could be traded for 100 yen and in 2012 a dollar could be traded for 90 yen. Between these two years, the dollar has become ________ valuable and so the dollar has ________
A) more; appreciated against the yen
B) less; depreciated against the yen
C) more; appreciated against the dollar
D) less; appreciated against the yen
E) more; depreciated against the yen
B
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Marginal revenue for a single-price monopolist is
A) less than the market price. B) equal to the market price. C) greater than the market price. D) equal to zero for all levels of output.
If the Federal Reserve sells $20 million worth of government securities and the M1 multiplier is 2.5. Bank reserves will
A) fall by $20 million. B) fall by $50 million. C) fall by $16 million. D) fall by $8 million.
Total revenue divided by quantity is
A) average revenue. B) marginal revenue. C) quantity revenue. D) price revenue.
The monopoly's marginal revenue curve
a. is equivalent to its demand curve b. lies below its demand curve c. is perfectly elastic d. is perfectly inelastic e. has a positive slope