The wage rate is the opportunity cost of
A) leisure. B) consumption.
C) working overtime. D) working.
A
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Which of the following will cause an increase market supply?
A. An increase in the price of the good. B. An increase in demand for the good. C. A technological innovation that lowers the marginal cost of producing the good. D. A decrease in the number of firms in the market.
Explain why the money supply does NOT change when one individual writes a check to another
What will be an ideal response?
A profit-maximizing output for a single-price monopoly is determined by the intersection of the ________ curves and the profit-maximizing price is found on the ________ curve
A) marginal cost and marginal revenue; marginal revenue B) marginal cost and marginal revenue; demand C) total revenue and total cost; total revenue D) marginal cost and average total cost; demand E) demand and supply; supply
Import controls that can help a government maintain a fixed exchange rate, which if left to the foreign exchange market would depreciate, are
a. lowering tariffs and increasing quotas so that more international trade occurs b. raising tariffs and decreasing quotas so that its country's demand for foreign exchange decreases c. requiring exporters to turn over their foreign exchange to the government at a fixed exchange rate d. having the IMF loan the government enough foreign exchange to get through the crisis e. causing a devaluation of the nation's currency so that exports rise and imports fall