The demand curve facing a monopolist is
A. downward sloping.
B. vertical.
C. upward sloping.
D. horizontal.
Answer: A
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An exchange rate that is set by official government policy is called a ________ exchange rate.
A. nominal B. fixed C. real D. flexible
International borrowing and lending may be interpreted as one form of
A) intertemporal trade. B) intermediate trade. C) trade in services. D) unrequited international transfers. E) aid to offset trade advantages.
Frieda enjoys cooking and baking. Her utility function is U(C, B) = 6C + 3B, where C is the number of hours she spends cooking and B is the hours she spends baking. What is Frieda's MU of cooking?
A. 1/6 B. 2 C. 6 D. It cannot be determined from the given information.
If market demand increases and market supply decreases, the change in equilibrium price is unpredictable without first knowing the exact magnitudes of the demand and supply changes.
Answer the following statement true (T) or false (F)