The marginal cost of collecting information:
A. is independent of the amount of information that has already been acquired.
B. is now zero because of the Internet.
C. falls as more information is collected.
D. rises as more information is collected.
Answer: D
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When the exchange rate between the U.S. dollar and the euro changes from 1.30 euros per dollar to 1.00 euro per dollar the dollar has ________ and U.S. goods have become ________ to people in Europe so that quantity of U.S. dollars demanded ________
A) depreciated; cheaper; decreases B) depreciated; cheaper; increases C) appreciated; more expensive; decreases D) depreciated; more expensive; decreases E) appreciated; cheaper; increases
Is the marginal benefit someone receives from a good or service the same as the price the person pays? Explain your answer
What will be an ideal response?
An increase in expected inflation is likely to cause
A) a decline in the demand for real balances. B) an increase in the demand for real balances. C) no change in the demand for real balances. D) no change in the demand for real balances only if the income elasticity of real money demand is zero.
The invisible hand refers to the coordination that occurs from:
A. everyone working in his or her own self-interest. B. a government agency finding efficiencies. C. everyone working for the overall good of society. D. a government coordinating economic activity.