Refer to the scenario above. The seller will earn a revenue of ________
A) $100
B) $300
C) $200
D) $400
B
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If the economy's real GDP doubles in 9 years, we can
A. conclude that its average annual rate of growth is 8%. B. not say anything about the average annual rate of growth. C. conclude that its average annual rate of growth is 4%. D. conclude that its average annual rate of growth is 12%.
Since most banks have positive gaps and negative duration gaps, an increase in market interest rates will
A) increase bank profits and increase bank capital. B) increase bank profits and decrease bank capital. C) decrease bank profits and increase bank capital. D) decrease bank profits and decrease bank capital.
If a customs union includes the lowest-cost world producer of a product, then member countries:
a. will always be better off in trade with that product. b. will always be worse off in trade with that product. c. can be better off or worse off depending on the strengths of the trade diversion and trade creation effects for that product. d. will no longer export or import that product.
If total cost is $1,000 when output is zero, and total cost is $1,200 when output is one, and total cost is $1,500 when output is two, then which of the following is true?
A. Total fixed cost is $1,500. B. The marginal cost of producing the first unit of output is $1,200. C. The marginal cost of producing the second unit of output is $300. D. The average fixed cost is $750 when two units of output are produced.