Refer to the graph below, which shows the supply and demand for British pounds. D1 and S1 represent the initial demand and supply curves. If there is a large increase in the number of American tourists visiting Britain because of a major event like the Olympics or the World Cup, then what should the British government do if it wants to fix the exchange rate at its initial level?
A. Shift D1 to D2
B. Shift D1 to D3
C. Shift S1 to S2
D. Shift S1 to S3
D. Shift S1 to S3
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In the United States since 1900, life expectancy at birth has ________ and the death rate has ________
A) decreased; increased B) increased; increased C) decreased; decreased D) increased; decreased
To protect the environment, governments in the United States have mainly used
a. legally enforceable direct controls on pollution. b. taxes on goods whose production creates pollution. c. direct taxes on emissions. d. discretionary guidelines suggested to polluting firms.
Competitive firms decide how much output to sell by producing output until the price of the good equals
a. marginal product. b. the value of marginal product. c. marginal cost. d. marginal profit.
Refer to the information provided in Table 8.8 below to answer the following question(s). Table 8.8Number of Fruit BasketsTFCTVCTCMC0$100 $0$100 --11002012020210030 13010310042 14212410062 16220510092 192306 100136 236 44Refer to Table 8.8. Assume that Polynesian Fruit sells fruit baskets in a perfectly competitive market. The market price of a fruit basket is $30. To maximize profits, Polynesian Fruit should sell ________ fruit basket(s) and their profit is ________.
A. two; -$70 B. five; -$42 C. zero; $0 D. three; -$52