Referring to Figure 19.1, the peso is likely to appreciate if the exchange rate is either ________ or ________ pesos to the dollar
A) 10; 11 B) 11; 12 C) 12; 13 D) 13; 14
D
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We should never assume that an inelastic demand curve is a perfectly inelastic demand curve because
A) perfectly inelastic demand curves are rare. B) an inelastic demand curve may be perfectly inelastic at some times but not others. C) an inelastic demand curve may be elastic at low prices. D) there has never been evidence of a perfectly inelastic demand curve.
Antitrust risks from vertical integration are usually ______than those from horizontal integration
a. Higher b. Lower c. About the same as d. None of the above
The Federal Trade Commission:
a. was abolished by the Celler-Kefauver Act. b. was established when the Antitrust Division of the Justice Department was eliminated. c. largely deals with utility regulation. d. is a weak and ineffective government agency. e. investigates unfair and deceptive trade practices.
Most markets involve the use of money for transactions because:
a. goods and services can be exchanged more easily with money than without it. b. goods and services cannot be exchanged without money. c. using money requires a double coincidence of wants. d. the transaction costs of using money are very high. e. the value of money remains same across countries over time.