Devices that set up multiple exchange rates between the currencies of two nations are known as
a. tariff quotas.
b. export subsidies.
c. exchange controls.
d. variable currencies.
c. exchange controls.
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By threatening to lockout the workers, the firm has
a. Eliminated half of the strategies b. Forced the union to choose the best response in the firm's best interest c. Made it in the union's best interest to not strike d. All of the above
An economic theory claims that a rise in gasoline prices will cause gasoline purchases to fall, Ceteris paribus. The phrase "Ceteris paribus" means that:
a. other relevant factors like consumer incomes must be held constant. b. the gasoline prices must first be adjusted for inflation. c. the theory is widely accepted but cannot be accurately tested. d. consumers' need for gasoline remains the same regardless of the price.
Which of the following will most likely be an unanticipated economic change?
What will be an ideal response?
Refer to Figure 84. Average variable costs are minimized at an output level A) of 2. B) of 3. C) of 6. D) that is indeterminate from this information.