The largest trading of foreign exchange occurs in
A) New York.
B) London.
C) Tokyo.
D) Frankfurt.
E) Singapore.
B
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If the marginal cost curve is above the average total cost curve, then
A. average variable cost is decreasing. B. average total cost is decreasing. C. average total cost is increasing. D. average total cost is constant.
The faster an automobile is driven (speed), the lower the miles per gallon (mpg) for that automobile. Given this information, we say that an automobile's speed and mpg have
A) a direct relationship B) an inverse relationship C) a linear relationship D) a maximum relationship
If a firm buys a specialized metal stamping machine that will last 4 years for $125,000 and cannot resell it, the sunk cost is
A) $0. B) $31,250. C) $125,000. D) $93,750.
An increase in the demand for peanut butter, a normal good, can be caused by a(n):
a. decrease in consumer income. b. increase in the price of jams, jellies, and preserves. c. decrease in the price of bread. d. drought in Georgia that destroyed 30 percent of the peanut crop. e. decrease in the price of bologna.