Total consumer surplus is measured by the total area under the market demand curve and below the equilibrium price
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following statements is incorrect?
A. Any central bank policy that influences the domestic interest rate will affect the exchange rate. B. A foreign exchange intervention affects the value of a country's currency by changing domestic interest rates. C. Higher U.S. interest rates would likely result in an appreciation of the U.S. dollar. D. Sterilized changes in foreign exchange reserves alter a country's monetary base.
Some commentators will argue that increases in productivity may have no effect or even a negative effect on employment in the short run. Explain what must occur for an increase in productivity to have no effect or even a negative effect on employment in short run
What will be an ideal response?
Refer to the graph below showing the revenue curves for a monopolist. The elastic portion of the demand curve ranges from quantity:
A. 0 to Q4
B. Q2 to Q4
C. 0 to Q3
D. Q3 to Q4
Refer to Table 2-17. What is Lucy's opportunity cost of making a tricycle?
A) 3/4 of a wagon B) 1 1/3 tricycles C) 3 wagons D) 2 tricycles