The table above shows the exchange rates between various currencies and the U.S. dollar. Between 2015 and 2016, the U.S. dollar ________ against the Euro and ________ against the Japanese yen
A) depreciated; depreciated
B) appreciated; appreciated
C) appreciated; depreciated
D) depreciated; appreciated
B
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Suppose the Federal Reserve buys $50 million worth of securities from a commercial bank. As a result, the monetary base ________, and the quantity of money will ________ $50 million due to the ________
A) increases; increase by more than; money multiplier B) decreases; decrease by more than; money multiplier C) increases; increase by more than; expenditure multiplier D) decreases; decrease by less than; expenditure multiplier E) increases; decrease by; currency drain
A good deal of iron ore is mined in Michigan's Upper Peninsula. What is the relationship between the demand for iron ore and the cost of mining operations in Michigan?
A) Changes in the demand for iron ore are caused directly by changes in the cost of iron mining. B) Changes in the costs of iron mining are caused by changes in the demand for iron ore. C) There is no significant relationship because the demand for iron ore is determined by many different people, while the cost of mining the ore is determined by business executives. D) Nobody knows.
As long as average revenue remains above average total cost:
A. total revenue will be higher than total cost. B. the firm will be making profits. C. price will be greater than average total cost. D. All of these are true.
If perfectly competitive industry B is currently realizing economic profits, we would expect that:
a. industry output will fall, good B will fall in price, and economic profits will tend to disappear. b. industry output will fall, good B will rise in price, and economic profits will tend to disappear. c. industry output will rise, good B will fall in price, and economic profits will tend to disappear. d. industry output will rise, good B will fall in price, and economic profits will tend to increase.