Which of the following changes in the exchange rate represents a depreciation of the dollar?
a. 100 yen = $1 to 110 yen = $1 b. 1 yen = $.10 to 1 yen = $.08
c. 1 peso = $10 to 1 peso = $11 d. 200 francs = $10 to 250 francs = $10
c
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How are the law of demand and the law of diminishing marginal utility related?
a. The law of diminishing marginal utility explains the law of demand. b. The law of demand explains the law of diminishing marginal utility. c. The law of demand contradicts the law of diminishing marginal utility. d. The law of diminishing marginal utility contradicts the law of demand.
Which measures the changes in the prices of a "market basket" of some 300 goods and services purchased by typical urban consumers?
A. The Retail Trade survey. B. The Consumer Price Index. C. The Survey of Manufactures. D. The GDP price index.
Let C represent consumption expenditure, S saving, I gross private domestic investment, G government expenditure on goods and services, and X - M net exports of goods and services. Then GDP equals
A) C + S + G + X - M. B) C + S + G - X - M. C) C + I + G + X - M. D) C + I + G - X - M.
The U.S. Postal Service has found its monopoly eroded over time because
a. the demand for mail delivery has become more inelastic b. Congress has taken away their monopoly over first-class mail c. the U.S. Postal Service cannot handle the volume of transactions d. the price of stamps has increased relative to other substitutes, such as the telephone, email, and online transactions e. of the decline in the use of fax machines