Refer to the above figure. Profits will equal zero
A) when the price equals $1.
B) when the price equals $2.
C) when the price equals $4.
D) at prices between $1 and $2.
B
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The monetary base is the sum of
A) coins, Federal Reserve notes, and banks' reserves at the Fed. B) Federal Reserve notes, Treasury deposits at the Fed, banks' reserves at the Fed, and coins. C) coins, Federal Reserve notes, and individuals' deposits at the Fed. D) coins, Federal Reserve notes, and gold at the Fed. E) Federal Reserve notes and banks' reserves at the Fed.
Lately, the Chinese authorities seem to be backing away from ____ and the Yuan has ____ relative to the dollar
a. managed-float; devalued b. currency peg; depreciated c. floating rate; revalued d. currency peg; appreciated
In the long run, a profit-maximizing monopolistically competitive firm sells at a price that is:
A. the same as in perfect competition. B. equal to average total cost. C. equal to marginal cost. D. below average total cost
Refer to the graph shown.
If Countries X and Y face the production possibility curves A and B, respectively, Country Y has a comparative advantage in the production of:
A. neither agricultural goods nor industrial goods. B. agricultural goods only. C. industrial goods only. D. both agricultural goods and industrial goods.