At the point where a fair price is set,
a. price = average total cost (ATC)
b. price = marginal cost
c. price = marginal revenue
d. price = total cost
e. price = total revenue
A
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In order to import German goods into the United States, U.S. importers must buy those goods with German currency, i.e., Euros. Assume, all else constant, there is a decrease in the price of U.S.-made cars compared to the price of German cars
Based on this information, we can conclude, with certainty, that in the market for Euros (where the price of Euros is measured in dollars), this would cause: A) an increase in the equilibrium price of Euros. B) a decrease in the equilibrium price of Euros. C) an increase in the equilibrium quantity of Euros. D) a decrease in the equilibrium quantity of Euros.
The less foreigners demand U.S. products:
a. the more of their currencies they will supply in exchange for U.S. dollars. b. the more of their currencies they will demand in exchange for U.S. dollars. c. the less of their currencies they will supply in exchange for U.S. dollars. d. the less of their currencies they will demand in exchange for U.S. dollars.
A tax levied on the sellers of a good shifts the
a. supply curve upward (or to the left). b. supply curve downward (or to the right). c. demand curve upward (or to the right). d. demand curve downward (or to the left).
If the economy is operating way below capacity, an increase in aggregate demand causes a ________ change in the price level and ________ change in output.
A. big; big B. small; small C. small; big D. big; small