The rate at which one currency is traded for another is called a(n)
a. prime rate.
b. trade rate.
c. exchange rate.
d. money rate.
c
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The principle of diminishing marginal utility implies that the
A) marginal utility of a product is negative. B) total utility from a product is also diminishing as more units are consumed. C) rate of change of total utility is diminishing as more units are consumed. D) rate of change of marginal utility is very low as more units are consumed.
Because of the slope(s) of the ________, we can say that a decrease in the price level leads to a higher level of real GDP demanded
A) short-run and long-run aggregate supply curves B) short-run aggregate supply curve C) aggregate demand curve D) long-run aggregate supply curve
Refer to the table below. Which drug should the senior manager not pursue?
The senior manager of Rx Pharmaceuticals needs to decide which of three drugs the company should consider developing. The estimated profit for each of the drugs differs depending on the market conditions when the respective drugs are introduced to the market. The above table summarizes the estimated profit for each drug under each of the three market conditions; Good, Fair, and Poor.
A) Drug Y
B) Drug X
C) Drug Z
D) all of the drugs
Consider the following statements when answering this question I. It is impossible to shift taxes from producers to consumers without hurting the latter. II. Only polluters pay (through production taxes) for the environmental damage they cause
A) I and II are true. B) I is true, and II is false. C) I is false, and II is true. D) I and II are false.