Which two curves tell you whether or not you've achieved maximum profit?
a. P and MR
b. MR and MC
c. MC and TC
d. P and AVC
e. AVC and ATC
B
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The ease with which an asset can be converted into the medium of exchange is called
a. liquidity. b. velocity. c. the equation of exchange. d. the money multiplier.
Suppose that a haircut will give Dawn 2,000 units of utility and cost her $40, whereas a manicure costs $25 and yields 1,000 units of utility. Most likely Dawn should:
A. choose the haircut because she will receive 50 units of utility per dollar compared with 45 units of utility per dollar for the nails. B. be indifferent between the two choices. C. choose the haircut because each unit of utility will cost her $0.02 compared with $0.025 for the nails. D. choose the nails because she will obtain 50 units of utility per dollar compared with 40 units of utility per dollar for the haircut.
The BEA is the
A. Bureau of Educational Administration. B. Bureau of Educational Analysis. C. Bureau of Economic Alliances. D. Bureau of Economic Analysis.
For this question, assume that interest parity holds, the future expected exchange rate is constant, the current nominal exchange rate is 1.2, the one-year foreign interest rate is 6% and the one-year domestic interest rate is 3%. Given this information, one can conclude that
A) financial market participants expect that the exchange rate (E) will increase by 3% over the coming year. B) financial market participants expect that the exchange rate (E) will decrease by 3% over the coming year. C) financial market participants expect that the domestic currency to depreciate by 3% over the coming year. D) financial market participants expect that the exchange rate (E) will increase by 20% over the coming year.