Suppose you are viewing a graph of the total revenue generated from the sale of bananas. On the horizontal axis the numbers indicate the quantity of bananas. On the vertical axis the numbers indicate total revenue. Suppose there are two lines on the graph, A and B, and they only meet when quantity is zero. If, at an output of 10,000 bananas, A lies above B, we can say that
a. A corresponds to more bananas than B
b. A represents average revenue at a lower price than B
c. A represents marginal revenue at a higher price than B
d. A represents total revenue at a higher price than B
e. A represents total revenue at a lower price than B
C
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____ refer to goods and services that are produced domestically and sold in another country
a. Imports b. Exports c. Intermediary goods d. Merit goods
The deadweight loss of a tax rises even more rapidly than the size of the tax
a. True b. False Indicate whether the statement is true or false
Which of the following is an example of foreign direct investment?
A. Dr. Gareau, a French biologist, buys $5,000 worth of shares of Toyota. B. Ford buys a controlling interest in Peugeot Citroën, a French automobile company. C. Wells Fargo Bank buys $10 million worth of Bank of England T-Bills. D. Ford motor company puts $10 million from its pension fund into a mutual fund containing shares of foreign companies.
An excess quantity of money demanded will lead to a rise in
A. bond prices. B. income. C. the interest rate. D. investment.