Based on the figure above, which of the following factors could lead the demand curve to shift leftward from D0 to D2?
A) a rise in expected future U.S. exchange rate
B) a fall in the U.S. exchange rate
C) a rise in the U.S. interest rate
D) a rise in the U.S. exchange rate
E) a fall in foreign interest rates
A
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If a firm spends money on advertising, its gross profit is ________ its net profit.
A) greater than B) exactly twice C) equal to D) less than
If the supply curve is vertical, then supply is
A) relatively elastic. B) perfectly elastic. C) unit elastic. D) perfectly inelastic.
A country that has demonstrated the ability to catch up to the technology leaders by investing in both physical and human capital is called
a. a dependent economy. b. a converging economy. c. an advancing economy. d. a predatory economy.
Which of the following is an explicit cost?
a. The wages a firm pays to its workers b. The opportunity cost of an owner/entrepreneur's time invested in the firm c. The opportunity cost of the money the business owner/entrepreneur has invested in the firm d. The price of the business owner's/entrepreneur's land used for constructing a factory and a warehouse.