A rightward shift of the Canadian demand curve for foreign exchange will
a. decrease the price of foreign exchange in Canada
b. decrease the value of the Canadian dollar
c. increase the value of the Canadian dollar
d. make foreign goods less expensive in terms of Canadian dollars
e. make Canadian goods more expensive in terms of foreign exchange
B
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In 2010, the highest quin tile of the income distribution earned approximately
a. 5 percent of aggregate income. b. 10 percent of aggregate income. c. 15 percent of aggregate income. d. 50 percent of aggregate income.
Which of the following represents the key difference between the short run and the long run?
a. In the long run, the firm makes commitments to a certain type of production technology which are represented as fixed costs in the long run. For example, they have signed a lease on a particular production facility. These fixed costs do not exist in the short run. b. In the short run, the firm makes commitments to a certain type of production technology, which are represented as fixed costs in the short run. For example, they have signed a lease on a particular production facility. These fixed costs do not exist in the long run. c. The short run refers to less than two years and the long run in over two years. d. None of the above are correct.
If D equals the maximum amount of new demand-deposit money that can be created by the banking system on the basis of any given amount of excess reserves; E equals the amount of excess reserves; and m is the monetary multiplier, then:
A. m = E/D. B. D = E × m. C. D = E - 1/m. D. D = m/E.
Quick Buck and Pushy Sales produce and sell identical products and face zero marginal and average cost. Below is the market demand curve for their product.
Suppose Quick Buck and Pushy Sales decide to collude and work together as a monopolist with each firm producing half the quantity demanded by the market at the monopoly price. If Quick Buck cheats by reducing its price to $1 while Pushy Sales continues to comply with the collusive agreement, then Quick Buck will sell ________ units and Pushy Sales will sell ________ units.
A. 3,000; 1,000 B. 2,000; 1,000 C. 3,000; 0 D. 0; 3,000