Using the data in the above table, the average total cost of producing 16 units per day is
A) $1.25.
B) $6.25.
C) $7.00
D) $7.50.
D
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If a country that fixes its exchange rate has an undervalued exchange rate, then it will ________ reserves, unless it ________ its money supply to the appropriate level
A) gain; increases B) lose; increases C) lose; decreases D) gain; decreases
Activities that are directly included in GDP accounts include:
a. the value of housework done by householders. b. the selling of illegal drugs. c. unreported labor in sweatshops. d. buying a ticket to a Dodgers-Expos game on your day off.
Suppose the domestic supply (QS) and demand (QD) for MP3 players in the United States is represented by the following set of equations:QS = -25 + 10PQD = 875 - 5PIn the absence of international trade in MP3 players, how many MP3 players will be sold in the United States?
A. 925 B. 608 C. 575 D. 825
Assume initially that the price of X (measured on the horizontal axis) is $9 and the price of Y (measured on the vertical axis) is $4. If the price of X now declines to $6, the budget line will:
A. be unaffected. B. shift outward on the vertical axis. C. shift inward on the horizontal axis. D. shift outward on the horizontal axis.