Ceteris paribus, or "all other things held constant," is an assumption that has what effect on a demand schedule?
a. It takes only prices into account.
b. It considers the effects of all possible changes on demand.
c. It is accurate no matter what changes occur.
d. It is accurate only at one price level.
Ans: a. It takes only prices into account.
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Refer to Figure 7-2. With the tariff in place, the United States consumes
A) 18 million pounds of coffee. B) 20 million pounds of coffee. C) 26 million pounds of coffee. D) 38 million pounds of coffee.
Management structures that include money market funds and bond funds in addition to stock funds are known as
A) exchange-traded funds. B) dealers. C) brokers. D) families of mutual funds.
Given the total cost function TC = 100 + 40Q - 15Q2 + 5Q3, calculate the
a. average fixed cost function (AFC) b. average variable cost function (AVC) c. marginal cost function (MC)
Suppose that more British decide to vacation in the U.S. and that the British purchase more U.S. Treasury bonds. Ignoring how payments are made for these purchases,
a. the first action by itself raises U.S. net exports, the second action by itself raises U.S. net capital outflow. b. the first action by itself raises U.S. net exports, the second action by itself lowers U.S. net capital outflow. c. the first action by itself lowers U.S. net exports, the second action by itself raises U.S. net capital outflow. d. the first action by itself lowers U.S. net exports, the second action by itself lowers U.S. net capital outflow.