Referring to Figure 18.2, the dollar is likely to appreciate if the exchange rate is either ________ or ________ pesos to the dollar.
A. 10; 11
B. 11; 12
C. 12; 13
D. 13; 14
Answer: A
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Hannah's House of Hotcakes serves 30 customers in an hour when it hires one worker. It serves 60 customers in an hour when it hires two workers. The marginal product of the second worker is ________ customers served per hour.
A. 20 B. 30 C. 50 D. 67.5
Which of the following scenarios is an example of an investment in physical capital?
A. A chemical firm employs chemists to develop new chemicals. B. A firm pays for workers to take college classes. C. A firm purchases new equipment for a manufacturing process. D. A firm trains workers to operate new machinery.
Refer to the scenario above. If each bidder uses his/her dominant strategy, who will get the good being auctioned?
A) Tom B) Pat C) Arthur D) Julie
Kumiko is not at her consumer equilibrium because she sees too many movies and buys too few books. As she moves toward her consumer equilibrium, her marginal utility from movies will ________ and her marginal utility from books will ________
A) decrease; decrease B) increase; decrease C) decrease; increase D) increase; increase