If the quantity of euro demanded were greater than the quantity supplied, then the price of the
a. euro would rise.
b. euro would fall.
c. dollar would rise.
d. euro would be in equilibrium.
A
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If you know that total fixed cost is $200, total variable cost is $600, and total product is 4 units, then average total cost must be
A. $200. B. $250. C. $3,200. D. $800.
What is true of marginal cost when marginal returns are decreasing?
a. It is negative and increasing. b. It is negative and decreasing. c. It is positive and increasing. d. It is positive and decreasing. e. It is positive and has a constant slope.
If the Fed wishes to slow economic activity, it might actively pursue:
A. contractionary fiscal policy. B. expansionary monetary policy. C. expansionary fiscal policy. D. contractionary monetary policy.
An externality is
A. the total cost to society of producing an additional unit of a good or service. B. the amount a consumer pays to consume an additional amount of a particular good. C. a cost or benefit resulting from some activity or transaction that is imposed or bestowed on parties outside the activity or transaction. D. a problem intrinsic to public goods: The good or service is so costly that its provision generally does not depend on whether or not any single person pays.