The cost of inflation to society includesI.The opportunity costs of resources used by people to protect themselves against inflationII.The costs associated with recalculating prices
A. I only
B. II only
C. Both I and II
D. Neither I nor II
Answer: C
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The exchange rate is the price measured in one country's currency of buying several units of another company's currency
Indicate whether the statement is true or false
A positive temporary supply side shock will:
A. increase the level of potential output in the long run. B. decrease the price level in the long run. C. increase the price level in the long run. D. have no effect in the long run.
If a company has a cost curve of TC = 300 + 2Q + Q2 and it produces 300 units per day, then its marginal cost is
A. $600. B. $2.02. C. $602. D. $1.
Refer to the information provided in Table 8.3 below to answer the question(s) that follow.
Table 8.3
Refer to Table 8.3. If the firm is in a perfectly competitive industry with a market price of $30 per unit, the firm will produce ________ units and earn a profit of ________.
A. five; $30 B. three; $20 C. four; $20 D. four; -$20