Refer to the information provided in Figure 6.1 below to answer the question(s) that follow.
Figure 6.1Refer to Figure 6.1. Assume Tom is on budget constraint AC and the price of a hamburger is $8.00. Tom's monthly income is
A. $2.50.
B. $20.
C. $80.
D. $160.
Answer: D
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The "old" Keynesian approach dominated macroeconomic theory until the
A) 1930s. B) late 1950s. C) late 1960s. D) early 1980s.
In Exhibit 3, what area(s) represent consumer surplus gains from imports after free trade is allowed?
a. a
b. b
c. a and b
d. b and d
Exhibit 7-10 Price and cost data for a firm Q P AVC ATC MC 0 $12 ? ? ? 1 12 3 5 5 2 12 5 6 7 3 12 7.3 8 12 4 12 9.5 10 16 In Exhibit 7-10, MR is the same as which column?
A. Q. B. P. C. AVC. D. ATC. E. MC.
If the dollar used to buy 100 yen and now buys 360 yen, there has been
A. an increase in special drawing rights. B. appreciation of the dollar. C. depreciation of the dollar. D. appreciation of the yen.