Mao Tse-tung was responsible for
A. both the Great Leap Forward and the Cultural Revolution.
B. neither the Great Leap Forward nor the Cultural Revolution.
C. the Great Leap Forward, but not the Cultural Revolution.
D. the Cultural Revolution, but not the Great Leap Forward.
A. both the Great Leap Forward and the Cultural Revolution.
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When deciding what price to charge customers, a firm may choose to charge different prices based on customers'
a. Age b. Willingness to pay c. Location d. All of the above
Suppose we were analyzing the pound per Swiss franc foreign exchange market. If Switzerland's interest rate rises relative to England and nothing else changes, then the:
a. The supply of Swiss francs in the foreign exchange market falls, and the demand for Swiss francs in the foreign exchange market falls, causing an uncertain change in the value of the Swiss franc. b. The supply of Swiss francs in the foreign exchange market falls, and the demand for Swiss francs in the foreign exchange market rises, causing an appreciation of the Swiss franc. c. The supply of Swiss francs in the foreign exchange market rises, and the demand for Swiss francs in the foreign exchange market falls, causing an appreciation of the Swiss franc. d. The supply of Swiss francs in the foreign exchange market rises, and the demand for Swiss francs in the foreign exchange market rises, causing an uncertain change in the value of the Swiss franc. e. The supply of Swiss francs in the foreign exchange market rises, and the demand for Swiss francs in the foreign exchange market falls, causing a depreciation of the Swiss franc.
Describe the relationship between average variable cost and average total cost. How are the general shapes of the AVC and ATC curves related?
Refer to the accompanying figure. If the current market price were $20:
A. there would be an excess supply of 25 units. B. the market would be in equilibrium. C. there would be an excess demand of 25 units. D. there would be an excess demand of 35 units.