U.S. households wishing to purchase shares of stock in a European company are ________ the foreign exchange market.
A. suppliers of U.S. dollars in
B. suppliers of Euros in
C. demanders of U.S. dollars in
D. supplied Euros by the Fed for use in
Answer: A
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Classical macroeconomic theorists believed that the economy would recover on its own from an economic downturn because:
A. falling wages would lead prices to fall, which, in turn, would spur consumer spending. B. falling wages would lead consumers to spend less and save more. C. rising wages would lead prices to rise, which, in turn, would lead consumers to spend less. D. higher prices would lead wages to rise, which, in turn, would spur consumer spending.
In regression analysis, the dependent variable
A) is always quantity demanded. B) is the variable whose variation is to be explained. C) is one of the factors that explains what is happening with demand. D) is represented by the inverse demand function.
The major advantage of the corporation is
A. limited liability for owners. B. greater profit incentive than the other forms of business organization. C. lower taxes for owners, who are taxed only once. D. ability of owners to have hands-on management of the firm.
Suppose that a monopolist must choose between two points on its demand curve; it can sell 100 units for $3 each, or it can sell 160 units for $2 each. Which of the following is true?
a. The monopolist is facing an elastic demand. b. The monopolist is facing unit elastic demand. c. The monopolist is facing inelastic demand. d. The monopolist is facing perfectly elastic demand. e. The elasticity of demand cannot be determined with the information given.