Use the figure below to answer the following questions:
In the above figure, curves 1, 2, 3, and 4 represent the:
A. MC, ATC, AVC, and AFC curves respectively.
B. MC, AFC, AVC, and ATC curves respectively.
C. ATC, MC, AFC, and AVC curves respectively.
D. ATC, AVC, AFC, and MC curves respectively.
Answer: A
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As U.S. real GDP falls, poorer households may decide to buy ________ foreign goods and assets, which would cause a(n) ________ of the U.S. dollar.
A. fewer; appreciation B. more; appreciation C. fewer; depreciation D. more; depreciation
Assume a competitive market is in equilibrium. There is an increase in demand, but no change in supply. As a result, the equilibrium price ________, and the equilibrium quantity ________
A) rises; increases B) falls; increases C) falls; decreases D) falls; does not change E) rises; does not change
If the quantity desired of something exceeds the amount available at zero price, that item is called
A) capital. B) an economic good. C) an intangible good. D) a bad.
If a bank's reserves are exactly equal to the required amount of reserves, then it has no excess reserves
a. True b. False Indicate whether the statement is true or false