If your rent increases from $1,000 to $1,100 over a period of one year and your income rises from $6,000 to $7,000, your nominal income has
A. Increased, but your real income has remained the same.
B. Increased, and your real income has increased.
C. Increased, but your real income has decreased.
D. Decreased, and your real income has decreased.
Answer: B
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The combining of First Union National Bank and The National Bank of Memphis is an example of
A) a vertical merger. B) a horizontal merger. C) a downstream formation. D) a conglomerate merger.
A sellers' supply curve represents: a. the private cost borne by the sellers. b. the subsidies received by the sellers. c. the taxes paid by the sellers
d. the social cost borne by the sellers.
Suppose the price of one euro is fixed at $1.00. A Dutch oil company discovers new oil reserves in the North Sea and offers the oil for sale. If a flexible system is allowed, then what is the impact on the foreign exchange rate?
a. A dollar becomes worth one euro. b. The euro depreciates relative to the dollar. c. A dollar becomes worth two euros. d. The euro appreciates relative to the dollar.
Refer to the graph above. If the price of the product decreases from $6 to $5 because of a decrease in demand (not shown), total revenue would:
A. increase by $300. B. decrease. C. increase by $100. D. stay the same.