Refer to Figure 29-1. The depreciation of the euro is represented as a movement from
A) C to D. B) B to C. C) B to A. D) D to A.
B
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If a firm can double output by doubling the size of its operation, it is subject to
a. economies of scale b. diseconomies of scale c. constant returns to scale d. increasing returns to scale e. diminishing returns to scale
If a government price control succeeds in affecting price, it can be expected to lead to a corresponding
a. decrease in the quantity of sales only if the price is forced down. b. decrease in the quantity of sales if the price is forced down and an increase in the volume of sales if the price is forced up. c. decrease in the quantity of sales whether the price is forced up or down. d. increase in the quantity of sales whether the price is forced up or down.
When economists refer to investment expenditures they mean the
A. use of today's resources to expand tomorrow's production or consumption. B. purchase of a consumer nondurable goods. C. purchase of stocks or bonds. D. production of intermediate goods.
Nominal GDP is the
A. Value of final output produced, measured in current prices. B. Value of final output produced, adjusted for changing prices. C. Price index that refers to all goods and services included in GDP. D. Value of final output produced using American-owned factors of production.