Under both the gold standard and the gold exchange standard countries bought and sold U.S. dollars to maintain a fixed exchange rate with the dollar
a. True
b. False
Indicate whether the statement is true or false
False
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Refer to Table 16-3. Suppose Julie's marginal cost of providing this service is constant at $7 and she decides to charge each customer according to his or her willingness to pay. What is the value of consumer surplus by her customers?
A) $39 B) $28 C) $11 D) $0
Under which of the following conditions will there be no substitution bias in the CPI?
A) Indifference curves are convex. B) Indifference curves are L-shaped. C) Indifference curves are linear. D) Indifference curves are downward sloping.
A current account deficit can occur if ________, all else equal
A) net national savings equals zero B) net factor income from abroad equals zero C) net exports are negative D) net investment income is negative
Refer to Table 10-2. What is Keira's marginal utility per dollar spent on the third cup of soup?
A) 72 units of utility B) 36 units of utility C) 12 units of utility D) 6 units of utility