When one currency appreciates, another currency must depreciate
a. True
b. False
Indicate whether the statement is true or false
True
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If an excise tax is placed on a product that has a price elasticity of demand equal to zero, then the
a. entire tax will be paid by the consumer b. entire tax will be paid by the producer c. consumer and producer will each pay a share of the tax d. incidence of the tax cannot be determined unless we know the coefficient of price elasticity of supply e. tax is progressive
Knowledge is human capital plus business know-how.
Answer the following statement true (T) or false (F)
Which of the following is true for a monopolist?
A) Being the only seller in the market, the monopolist faces a perfectly inelastic demand curve. B) Being the only seller in the market, the monopolist faces a perfectly elastic demand curve. C) Being the only seller in the market, the monopolist faces the market demand curve. D) Being the only seller in the market, the monopolist faces a downward-sloping demand curve that lies below the marginal revenue curve.
Flexible exchange rates occur when
A. speculators bet that a currency will soon depreciate. B. exchange rates are determined by forces of supply and demand. C. governments and central banks spend foreign exchange to prop an exchange rate at a certain level. D. no one knows the true value of a currency.