If the shares of stock that Doug owns go up in value from $10,000 to $15,000, then Doug's wealth:
A. does not change.
B. increases by $15,000.
C. decreases by $5,000.
D. increases by $5,000.
Answer: D
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The long-run equilibrium for a monopolistically competitive firm occurs ________
A) at the minimum point of the marginal cost curve B) at the minimum point of the average cost curve C) along the downward sloping portion of its average total cost curve D) along the upward sloping portion of its average total cost curve
Answer the following statements true (T) or false (F)
1. The demand for necessities and goods that require a small expenditure tends to be price inelastic. 2. If total revenue decreases when a price is decreased, the demand for the commodity is elastic. 3. If the coefficient of elasticity for a commodity is 1.5 and the price of that commodity is raised, total revenue will decrease. 4. The slope of a demand curve is a measure of elasticity. 5. The demand for a fur coat tends to be more price elastic than the demand for automobile tires.
Before 1970, mutual funds invested almost solely in
A) corporate bonds. B) corporate common stocks. C) United States government bonds. D) municipal bonds and money market securities.
A revaluation of the exchange rate is a policy action that
A) increases the real exchange rate. B) decreases the real exchange rate. C) increases the nominal exchange rate. D) decreases the nominal exchange rate.