Which of the following will lead to an appreciation of the U.S. dollar against the British pound?
A) an increase in British demand for U.S. imports
B) an increase in U.S. demand for British imports
C) an increase in British interest rates
D) a decrease in British demand for U.S. assets
A
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If consumption expenditures fall, then in the short run
a. inflation and unemployment rise. b. inflation rises and unemployment falls. c. inflation falls and unemployment rises. d. inflation and unemployment fall.
Adverse weather conditions in Florida and other citrus-producing regions destroy a substantial portion of this year's crop of oranges. Other things being equal, the resulting decrease in supply is likely to
a. increase the price of oranges and decrease the quantity demanded. b. increase the price of oranges, but have no effect on the quantity demanded. c. decrease the price of oranges and increase the quantity demanded. d. decrease the price of oranges, but have no effect on the quantity demanded.
Figure 10-1
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If the price level in Figure 10-1 were 120,
A. there would be excess goods on the market. B. firms would have to raise their prices. C. inventories would be disappearing. D. aggregate quantity demanded would exceed aggregate quantity supplied.
For Elliot's dog-walking service, the only variable input is labor. Elliot's labor costs are $300 a day and his service walks 30 dogs per day. To walk 31 dogs per day, his labor costs increase to $305 a day. The marginal cost of walking that 31st dog is
A. $5. B. $9.83. C. $19.52. D. indeterminate from the information given.