Balance of payments deficits arise whenever the exchange rate is set at an artificially high level.
Answer the following statement true (T) or false (F)
True
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La Super Rica is a taco stand in Santa Barbara, California. It is popular with the locals and even the late Julia Child found the food delicious
If La Super Rica is currently producing where marginal revenue is greater than marginal cost, to increase its profit La Super Rica should A) increase production. B) decrease production. C) not change its production because it is maximizing its profit. D) Not enough information is given to determine what La Super Rica should do.
Refer to the table below. Recall that the bidders only know their own private value of the item and they do not know the other participants' private values. Further, the participants are bidding in a sealed-bid second-price auction and each participant will submit bids using their optimal strategy, except Bidder #5 who submits a bid of $10.25 million. If the rest of the participants submit bids
according to their optimal strategy, Bidder ________ wins the auction and pays ________.
The table above lists the independent private values of five participants in an auction. Each of the bidders only knows their own value and does not know the private values of the other participants.
A) $3; $10.25 million
B) #5; $10 million
C) $3; $10 million
D) #5; $10.25 million
Which of the following would be most likely to increase consumption spending?
a. A higher interest rate b. A drop in stock prices c. A reduction in consumer credit card debt d. The expectation of lower future prices e. An increase in the income tax rate
Which statement is true about Wal-Mart?
A. It pays most of its employees very well. B. It has forced many supermarkets out of business. C. Unlike its competitors, it charges its suppliers for shelf space. D. It is the third largest retailer in the U.S.