The United States has never had deflation
a. True
b. False
Indicate whether the statement is true or false
False
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Why might the Federal Reserve intervene in foreign currency markets?
A) to ensure the safety of overseas investments for private investors B) to maintain a desired exchange rate for the dollar C) to ensure the safety of overseas investments for pension funds D) to ensure the safety of overseas investments for banks
If marginal cost is less than average variable cost and output increases, average total cost ________ and average variable cost ________
A) increases; increases B) decreases; decreases C) decreases; increases D) increases; decreases
Tom and Jerry have two tasks to do all day: make dishes and build fences. If Tom spends all day making dishes, he will have make 16 dishes. If he instead devotes his day to building fences, Tom will build 4 fences. If Jerry spends his day making dishes, he will make 14 dishes; if he spends the day building fences, he will build 7 fences. Because Tom has a ________ opportunity cost for one fence compared to Jerry, we know Tom has ________.
A. higher; the comparative advantage in fence production B. lower; the comparative advantage in fence production C. higher; the comparative advantage in dish production D. similar; no advantage in production of either good
Suppose the interest rate is 8 percent. Consider three payment options. 1 . $300 today. 2 . $330 one year from today. 3 . $360 two years from today. Which of the following is correct?
a. 1 has the highest present value and 2 has the lowest. b. 2 has the highest present value and 3 has the lowest. c. 3 has the highest present value and 1 has the lowest. d. None of the above is correct.