Inflation in the United States would cause China's massive dollar reserves to lose value.
a. true
b. false
a. true
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Fast Copy is a perfectly competitive firm. The figure above shows Fast Copy's cost curves. If the market price is 2 cents per page, what is Fast Copy's profit maximizing level of output?
A) 16 pages per hour B) 32 pages per hour C) 48 pages per hour D) 64 pages per hour
In the figure above, what is the point price elasticity of demand when price is $60?
A. -0.50 B. -2.00 C. -1.00 D. -0.75 E. -1.60
When money is the basic measure of economic value, it serves as a:
A. store of value. B. unit of account. C. double coincidence of wants. D. medium of exchange.
The branch of economics that examines the functioning of individual industries and the behavior of individual decision-making units is
A. microeconomics. B. positive economics. C. macroeconomics. D. normative economics.