A monopolist maximizes profit by producing the quantity at which MC = MR, just like a perfect competitor.
Answer the following statement true (T) or false (F)
True
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When money is accepted as payment in a market transaction, it is functioning as a
A) store of value. B) unit of accounting. C) medium of exchange. D) unit of investment.
If you were told that the exchange rate between the U.S. dollar and the Canadian dollar was 1.2, that would mean that Canadians would have to spend ____ to buy a $12 watch in New York City
a. c and e b. 10 U.S. dollars c. 12 U.S. dollars d. 14.4 U.S. dollars e. 14.4 Canadian dollars
Which one of the following statements is true about the Affordable Care Act?
a. The final version of the ACA passed without a single Republican voting for its passage. b. The final version of the bill that passed was closer to the House version than the Senate version. c. As proponents promised, only high-income taxpayers are paying the new taxes included in the legislation. d. The typical family is now paying less for their health insurance thanks to the strict health insurance regulations included in the act.
In reading the national business news, you hear that mortgage rates increased by 50 basis points. If mortgage rates were initially at 6.5%, what are they after this increase?
A. 11.5% B. 7.0% C. 56.5% D. 6.55%