If the exchange rate is constant and U.S. imports increase, then in the foreign exchange market the
A) quantity of U.S. dollars supplied increases.
B) supply of U.S. dollars increases.
C) supply of U.S. dollars decreases.
D) demand for U.S. dollars increases.
E) quantity of U.S. dollars supplied decreases.
B
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Graphically, a firm's total cost is equal to the area of the:
a. triangle formed under the demand curve. b. rectangle formed under the demand curve at a given price and quantity combination. c. rectangle formed under the average-total-cost curve at a given ATC and quantity combination. d. triangle formed by a line segment between the demand and average-total-cost curves. e. triangle formed by a line segment between the horizontal axis and the average-total-cost curves.
Which of the following is not held constant along a demand curve for labor by a firm?
a. the firm's technology of production b. the price of the firm's output c. the marginal product of labor for the firm d. the price of substitutes for the firm's output
Which of the following is not an example of rent seeking?
A. A firm uses resources to convince a legislature to direct subsidies toward the firm. B. A mastermind hires a crew to tunnel into a bank vault. C. A person listens to an outdoor concert without paying. D. A window salesman throws bricks through perfectly fine windows.
Regulation is guaranteed to be more efficient than a monopoly
A) True, the government is able to internalize the dead weight loss of the monopoly. B) True, the consumers are better off if government provides the product rather than a private firm. C) False, the government does not always have sufficient information to provide a more efficient market outcome. D) False, the consumers are worse off under government regulation.