Falling growth rates during the 2007-2009 recession occurred:
A. only in the United States.
B. in the United States and Canada, but not in Germany, the United Kingdom, or Japan.
C. only in the high-tech sectors of the U.S. economy.
D. in the United States, Canada, Germany, the United Kingdom, and Japan.
Answer: D
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Assume an exchange rate of $1 = 0.60 British pound. A U.S. product sells in Britain for 18 pounds. By what percentage will dollar revenues change if the dollar price of a pound falls to 0.50 pound?
A. +20% B. +16% C. -16% D. -20%
Using the data in the above table, the average fixed cost of producing 9 units per day is
A) $2.22. B) $5.00. C) $5.55. D) $20.00.
Price wars occur more often in monopolistic competition than in other market structures
a. True b. False
When the MPP of labor is zero, ceteris paribus,
A. Additional units of labor must be employed because other factors of production are being wasted. B. No further increases in output can be achieved by using additional units of labor. C. Employment can be increased only by offering a higher wage rate. D. MRP is at a maximum.