(Last Word) Classical macroeconomics was dealt severe blows by:
A. the Great Depression and Keynes's macroeconomic theory.
B. the Second World War and the writings of Milton Friedman.
C. Adam Smith and his idea of the invisible hand.
D. the strong recovery after the Second World War and Alvin Hansen's stagnation thesis.
A. the Great Depression and Keynes's macroeconomic theory.
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The foreign exchange rate is the ________.
A. value of imports of the goods and services and the exports of goods and services in an economy B. amount of one nation's currency that can be purchased with a unit of another nation's currency C. real rate of interest on long-term government bonds in other nations D. rate at which money serves as a medium of exchange for goods and services that would typically be bartered
Refer to the scenario above. What is the opportunity cost of printing one notebook?
A) 0.5 magazines B) 1 magazine C) 2 magazines D) 30 magazines
MNO Limited publishes a magazine targeted at urban professionals who live on the east and west coasts of the U.S., and all of the magazines are printed at a marginal cost of $0.50 per copy at a publishing plant in Kansas
If the East Coast elasticity of demand for the magazine is -1.25 and the West Coast elasticity of demand is -1.50, what prices should MNO Limited charge for the magazines in these two markets in order to maximize profits? A) Price should be $0.50 in both markets B) Price should be $2.50 on the West Coast and $1.50 on the East Coast C) Price should be $1.50 on the West Coast and $2.50 on the East Coast D) Price should be $0.40 on the West Coast and $0.33 on the East Coast
If the price of bonds falls, the
a. demand for bonds will rise b. supply of bonds will fall c. supply of bonds will rise d. interest rate will rise e. interest rate will fall