In general, the more elastic a demand curve is the:
A. flatter it will be.
B. steeper it will be.
C. more bowed-in it will be.
D. faster it will shift when price changes.
A. flatter it will be.
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If the interest rate in the United States rises
A) investors increase their demand for dollars and the U.S. exchange rate appreciates. B) investors increase their demand for dollars and the U.S. exchange rate depreciates. C) investors decrease their demand for dollars and the U.S. exchange rate appreciates. D) investors decrease their demand for dollars and the U.S. exchange rate depreciates.
Many rural bank failures in the 1980s can be attributed to
a. the high farm prices of the 1970s that continued to rise in the 1980s and 1990s b. farmers' reluctance to buy more machinery and expand production due to the high farm prices of the 1970s c. the collapse of farm prices and land values in the early 1980s d. numerous loans made to oil-export economies such as Mexico and Venezuela e. the lack of rural loan portfolios being involved in farm ventures
It is clear from the text that most economists assume the primary goal of all firms is to
a. maximize sales b. minimize cost c. maximize efficiency d. maximize profit e. minimize loss
Daniel notices that every year with a mild winter, his roses begin to bloom in February, but every year with a severe winter, his roses do not begin to bloom until April. He concludes that the severity of the winter is responsible for the month in which his roses begin to bloom. Daniel is
A. probably misguided in that there is no apparent correlation or causation in this situation. B. very probably correct in his conclusion that the severity of the winter is a cause of when his roses begin to bloom. C. definitely confusing correlation with causation. D. likely correct that there is causation, but the causation is more likely running in the opposite direction in that the initial blooming of his roses is the cause of the severity of the previous winter.