Euro-optimists believe that the Eurozone has been successful because:
A) it has not collapsed since its inception.
B) the euro is becoming a reserve currency for foreign central banks.
C) European inflation has fallen to 10% annually.
D) there are no exit mechanisms for countries to leave the Eurozone.
Ans: B) the euro is becoming a reserve currency for foreign central banks.
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A price ceiling is:
A. a legal maximum price. B. a legal minimum price. C. a legal maximum quantity that can be sold at a particular price. D. a legal minimum quantity that can be sold at a particular price.
Brittany provides manicures at the only salon in town. Her marginal cost is constant at $5 per client, her fixed cost is $25 per day, and she is able to do 8 manicures per day. On a given day, half of her clients are willing to pay $15 for a manicure; half are willing to pay only $10 . If she charges all of her clients $10, then her maximum daily profit equals
a. $80 b. $15 c. $40 d. $55 e. $50
If the rate of interest is fixed, the MFC of capital is equal to the interest rate
Indicate whether the statement is true or false
Refer to Figure 14-11. The figure above is for a firm operating in a competitive industry. If there were four identical firms in the industry, which of the following price-quantity combinations would be on the market supply curve?
A $4 16 B $4 32 C $6 6 D $8 64