Refer to Table 8.1. Assume the wage rate is $10 and the firm has $1,000 in unavoidable fixed cost. What is the average cost of producing 65 units of output?
A. $40
B. $15.38
C. $0.50
D. $16
D. $16
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The money demand curve will shift to the left if:
A. the price level decreases. B. the nominal interest rate decreases. C. the nominal interest rate increases. D. the price level increases.
Today, the dollar is worth 1.15 euros. Due to changes in economic conditions, people expect that the dollar will be worth 1.20 euros in the next month. This belief
A) increases the demand for dollars. B) decreases the demand for dollars. C) increases the demand for euros. D) increases the value of exports to Europe.
Refer to the information provided in Figure 33.5 below to answer the question(s) that follow.
Figure 33.5Refer to Figure 33.5. The domestic price of oil is $130 per barrel. This country imports 14 million barrels if the world price of oil is
A. $120. B. $125. C. $135. D. $140.
The liquidity of money refers to
A) the amount of gold it is backed by. B) how quickly it can be disposed of without high transaction costs. C) asymmetric information. D) the standard of deferred payments and how quickly those payments can be made.