Refer to Figure 6.6. What area represents the compensation for an increase in the price of gasoline from $1.75 to $3.00 per gallon?
A. a + b + c + d + e
B. f + g + h
C. a + b + c
D. d + e
C. a + b + c
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Use the above figure. The economic profit for this firm is
A) zero. B) the distance between T and E. C) the distance between E and x-axis. D) the distance between T and x-axis.
If an exporter wants to limit the effect of possible changes in the exchange rate on the value of her exports, then she can adopt a strategy known as
A) floating. B) speculating. C) hedging. D) appreciating.
Bankers' business decisions effect the money supply because bankers
a. are respected men and women. b. have the ability to create money. c. use a special accounting system developed by the Federal Reserve Board. d. All of the above are correct.
Althea, a brilliant new Ph.D. in economics, has turned down many job offers because she hopes eventually to teach at one of the top 10 universities in her field. The type of unemployment she is experiencing is:
A. frictional. B. structural. C. underemployment. D. cyclical.