One impact of a rise in the dollar's value is that
A) imports become cheaper for the U.S. consumer.
B) exports will increase sharply.
C) U.S. goods will become cheaper overseas.
D) U.S. goods are cheaper domestically.
A
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In the market for reserves, if the federal funds rate is above the interest rate paid on excess reserves, an open market purchase ________ the ________ of reserves which causes the federal funds rate to fall, everything else held constant
A) increases; supply B) increases; demand C) decreases; supply D) decreases; demand
In January the price of widgets was $1.00, and Wendy's Widgets produced 80 widgets. In February the price of widgets was $1.50, and Wendy's Widgets produced 110 widgets. In March the price of widgets was $2.00, and Wendy's Widgets produced 140 widgets. The price elasticity of supply of Wendy's Widgets was about
a. 0.79 when the price increased from $1.00 to $1.50 and 0.84 when the price increased from $1.50 to $2.00. b. 1.27 when the price increased from $1.00 to $1.50 and 1.19 when the price increased from $1.50 to $2.00. c. 0.79 when the price increased from $1.00 to $1.50 and 1.19 when the price increased from $1.50 to $2.00. d. 1.27 when the price increased from $1.00 to $1.50 and 0.84 when the price increased from $1.50 to $2.00.
Total cost is
a. the sum of variable cost and fixed cost. b. average variable cost times quantity. c. the sum of average fixed cost and marginal cost. d. the sum of fixed cost and average variable cost.
Scarcity results when available resources cannot satisfy all desired uses of those resources.
Answer the following statement true (T) or false (F)