Other things the same, which of the following is correct?
a. A decrease in the price level causes the dollar to appreciate. Aggregate demand shifts right.
b. A decrease in the price level causes the dollar to depreciate. Aggregate demand shifts right.
c. If speculators lose confidence in the American economy, the dollar appreciates. Aggregate demand shifts right.
d. If speculators lose confidence in the American economy, the dollar depreciates. Aggregate demand shifts right.
d
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Goods X and Y are complementary goods. A decrease in price of good X has occurred. In the market for good Y, this will lead to
A. an increase in price and a decrease in quantity. B. an increase in price and an increase in quantity. C. a decrease in price and a decrease in quantity. D. a decrease in price and an increase in quantity.
Exactly what is a "sunk cost"?
A) A decision somebody regrets having made B) A mistaken choice C) Unrecoverable costs D) A cost that haunts you for the rest of your life
Refer to Figure 3-4. At a price of $15, how many units will be sold?
A) 300 B) 400 C) 600 D) 700
Unlike a competitive buyer,
A) a monopsonist faces an upward-sloping industry supply curve. B) a monopsonist pays a different price for each unit purchased. C) a monopsonist sets marginal value equal to marginal expenditure. D) a monopsonist pays a price that depends on the number of units purchased.