In principle, exchange rates are for currencies what
a. the price of apples are for apples
b. the current account is for the balance of payments
c. surpluses on current account are for deficits on current account
d. currencies are for capital accounts
e. capital accounts are for current accounts
A
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The average total cost curves for Plant 1, ATC0, and Plant 2, ATC1, are shown in the figure above. Over what range of output is it efficient to operate Plant 2?
A) 0-20 B) 0-25 C) 20-25 D) greater than 25
The table below shows how the total utility that Alan derives from watching basketball games changes as he watches more and more games each week:
Basketball Games Total Utility Marginal Utility 1 55 2 85 3 110 4 130 5 145 6 155 Fill in the table above. Do the numbers in the table support the law of diminishing marginal utility? Explain.
Suppose Carly Fiorina deposits $15 million cash from her safe deposit box into her checking account at PNC Bank. If the required reserve ratio is 10%, what is the maximum change in the money supply?
A) $1.5 million B) $15 million C) $135 million D) $150 million
Which of the following statements presents inaccurate information about the early U.S. labor movement?
a. Courts in the early 19th century often found unions guilty of conspiracy. b. Unskilled factory workers were the primary beneficiaries of early labor gains. c. In the 1820s and 1830s, small craft societies began to coalesce to form larger unions. d. Early unions experimented with collective bargaining, strikes and closed shops.