If two variables are inversely related, then as the value of one variable:
A. increases, the value of the other may either increase or decrease.
B. decreases, the value of the other decreases.
C. increases, the value of the other decreases.
D. increases, the value of the other increases.
Answer: C
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Use the following graph, which shows the market for euros, to answer the next question.
Assume the U.S. and European governments adopt a system of flexible exchange rates. If more people in Europe decide to purchase U.S. cars, what effect will this have on the market for euros?
A. The supply of euros will decrease. B. The supply of euros will increase. C. The demand for euros will decrease. D. The demand for euros will increase.
Suppose improvements in technology cause the supply of natural gas to increase and at the same time the demand for natural gas increases. What are we sure of?
A) Both equilibrium price and quantity increase. B) Equilibrium price increases. C) Equilibrium price decreases. D) Equilibrium quantity increases. E) Equilibrium quantity decreases.
The Toys-R-Danger-Us Toy Company can produce 500 water pistols for a total cost of $1,400 . The company can also produce 1,000 water pistols for a total cost of $3,000 . but it would have costs of $200 even if it produced no water pistols. Which of the following is true?
a. Total cost is increasing at a decreasing rate. b. Total cost is increasing at a constant rate. c. Marginal cost is positive and increasing as output increases. d. Variable cost is positive and decreasing as output increases. e. Fixed cost is positive and decreasing as output increases.
In an iron and steel plant with 4 blast furnaces, 40 laborers produce 160 tons of pig iron every day. The labor productivity in the firm is equal to _____
a. 0.25 ton per worker b. 4 tons per worker c. 10 tons per worker d. 0.1 ton per worker e. 40 tons per worker