A currency depreciation is a(n):
A. increase in the official value of a currency in a fixed-exchange-rate system.
B. increase in the value of a currency relative to other currencies.
C. reduction in the official value of a currency in a fixed-exchange-rate system.
D. decrease in the value of a currency relative to other currencies.
Answer: D
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Assume both the demand for bagels and the supply of bagels increase. Which of the following outcomes is certain to occur?
A. The equilibrium quantity of bagels will rise. B. The equilibrium quantity of bagels will fall. C. The equilibrium price of bagels will rise. D. The equilibrium price of bagels will fall.
If the market price falls below the bottom of the firm's ATC curve:
A. there is no level of output at which the firm can make a profit. B. the firm is earning profits. C. the market price must be lower than the firm's AVC. D. Total revenue must be higher than total cost.
Which of the following describes the Volcker disinflation most accurately?
a. Almost all of the public believed that the Fed would keep money growth low, so unemployment rose less than it would have otherwise. b. Almost all of the public believed that the Fed would keep money growth low, so unemployment rose more than it would have otherwise. c. Much of the public did not believe that the Fed would keep money growth low, so unemployment rose less than it would have otherwise. d. Much of the public did not believe that the Fed would keep money growth low, so unemployment rose more than it would have otherwise.
You rent a DVD of The Dark Knight Rises. The rental is for seven days and you watch the movie on the first day. You tell a friend about the film and your friend asks to come over and watch the movie with you before it is due back. What is your opportunity cost if you decide to watch the movie a second time instead of going to a football game?
A. the entire cost of the movie rental, since you have already watched the movie B. one half the rental cost, because you have already watched the movie one time C. zero, because you already paid for the rental. D. the football game you forego by watching the movie again