Which of the following would lead to an increase in the supply of Russian rubles?
a. An increase in the dollar price of the ruble
b. An increase in Russian GDP
c. An increase in the U.S. price level relative to the Russian price level
d. A decrease in the dollar-ruble exchange rate
e. Expectation that the price of the ruble will rise.
B
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If Jeff's wage rate rises, he decides to work more hours. From this, we can infer that
A) for Jeff, the substitution effect is greater than the income effect. B) for Jeff, the substitution effect is equal to the income effect. C) for Jeff, the substitution effect is less than the income effect. D) Jeff is confused.
The effect on total market demand from the advertising of a specific brand will
A) always be positive. B) always be negative. C) often be positive. D) often be negative.
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
According to the graph shown, if this economy were to open to trade, which amount of surplus would be transferred?
A. Area DE would be transferred to the consumer. B. Area FG would be transferred to the consumer. C. Area FG would be transferred to the producer. D. Area DEFG would be transferred to the consumer.
Which of the following conditions best explain the short-run economies of operation associated with production of an information product?
A) AVC slopes downward, and AFC is constant, so that ATC slopes downward. B) AVC is constant, and AFC slopes downward, so that ATC slopes downward. C) AFC is constant, and MC slopes downward, so that AVC slopes downward. D) MC is constant, and MC slopes upward, so that AVC slopes upward.