Select the phrase that correctly completes the following statement. "A decrease in the number of manufacturers caused a decrease in the supply of sailboats. As a result
A) the price of sailboats increased and the quantity of sailboats demanded decreased."
B) the equilibrium quantity of sailboats increased."
C) the price of sailboats increased and the demand for sailboats decreased."
D) the price of sailboats increased. The higher price caused the supply of sailboats to increase."
A
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Insurance works because
A) all policyholders pay in according to risks and all then receive a pay out in return. B) all policyholders pay in according to risks and then receive a pay out only if they incur a loss. C) all policyholders pay in according to risks and nobody receives any pay out. D) only high risk policyholders pay in while everyone is entitled to a pay out.
When the exchange rate moves from $1 = CAD1.5 to $1 = CAD1.66, it implies:
a. the U.S. dollar has depreciated in relation to the Canadian dollar. b. U.S. imports of Canadian goods will rise. c. the dollar price of the Canadian dollar has risen. d. the Canadian dollar has appreciated in relation to the U.S. dollar. e. Canadian imports of U.S. goods will rise.
A firm's profit is denoted by the Greek letter:
A. rho. B. delta. C. chi. D. pi.
At its regular meetings, the FOMC decides to sell or buy government bonds, an action referred to as ______.
a. reserve requirement alterations b. open market operations c. discount rate management d. interest rate changes