Which of the following equations is incorrect?
A) ATC - AFC = AVC
B) AVC + AFC = ATC
C) AFC = ATC - AVC
D) ATC = AVC - AFC
Answer: D
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Double markup problems arise when
a. upstream firms have no market power b. downstream firms have no market power c. upstream and downstream products are complementary in demand d. upstream and downstream firm's pricing decisions tend to increase the demand for the other product
By how much does the real, bilateral exchange rate change when the nominal, bilateral exchange rate changes from $1.10/€ to $1.00/€, the U.S. tradable basket from $500 to $600 and the Euro-Area tradable basket from €550 to €580?
a. The real exchange rate rises approximately by 20%. b. The real exchange rate rises approximately by 3% c. The real exchange rate falls approximately by 3% d. The real exchange rate falls approximately by 20% e. The real exchange rate falls approximately by 18%
Macroeconomic forecasts are
a. precise; this makes policy lags less relevant. b. precise; this makes policy lags more relevant. c. imprecise; this makes policy lags less relevant. d. imprecise; this makes policy lags more relevant.
What factors determine technological progress?
What will be an ideal response?