If one Mexican peso was worth 0.05 U.S. dollar, then one U.S. dollar would be worth:
a. 0.05 Mexican pesos.
b. 0.05 U.S. dollars.
c. 20 U.S. dollars.
d. 20 Mexican pesos.
e. 5 Mexican pesos.
.D
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"If the price falls and, as a result, the total revenue decreases, demand is elastic." Is the previous assertion correct?
What will be an ideal response?
When a firm is operating in a price-taker market, marginal revenue will always equal
a. average total cost. b. one minus the elasticity of the market demand curve. c. total revenue. d. price.
Who benefits from a higher than expected inflation rate?
a. Lenders and workers. b. Lenders and businesses. c. Borrowers and workers. d. Borrowers and businesses. e. None of the above.
A decline in household income that sets off a multiplier process causes
A. An increase in AD. B. A decrease in AS. C. A decrease in AD. D. An increase in AS.