Since its inception in January 1999 until 2011, the dollar has consistently appreciated against the euro
a. True
b. False
Indicate whether the statement is true or false
False
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Exhibit 21-1 Production possibilities curves
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In Exhibit 21-1, the production possibilities curves of wheat and corn for Nabia and Pada are presented. In Nabia the cost of producing one more unit of wheat is equal to:
A. 4 units of corn. B. 4 units of wheat. C. 1/4 unit of corn. D. 15 units of corn.
If the representatives of the OPEC countries decided to increase the quotas of oil each country are allowed to produce, the result would be that
A. the world demand for oil would fall. B. the world supply of oil would fall. C. the world demand for oil would rise. D. the world supply of oil would rise.
Refer to Figure 1-4. Which of the following statements is true?
A) The slope of the tangent at E and the slope of the tangent at F are negative. B) The slope of the tangent at E is positive and the slope of the tangent at F is negative. C) The slope of the tangent at E is negative and the slope of the tangent at F is positive. D) The slope of the tangent at E and the slope of the tangent at F are positive.
If a firm facing a perfectly elastic demand curve raises its price,
a. it will still sell exactly the same amount of output as it did at the lower price b. it will lose some, but not all, of its sales c. its sales will decrease to zero d. its sales will increase e. it is impossible to predict what will happen to its sales