A U.S.-imposed quota on automobiles would shift
a. both the demand and supply curves in the market for foreign-currency exchange right.
b. both the demand and supply curves in the market for foreign-currency exchange right.
c. only the demand curve in the market for foreign-currency exchange right.
d. only the supply curve in the market for foreign-currency exchange right.
c
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The slope of an indifference curve
A) measures total utility. B) is calculated by dividing the quantity of the good on the vertical axis by the quantity of the good on the horizontal axis. C) measures the marginal rate of substitution between the two goods in question. D) is calculated by dividing the price of good on the vertical axis by price of the good on the horizontal axis.
The major advantage of the corporation is
a. limited liability for owners. b. greater profit incentive than the other forms of business organization. c. lower taxes for owners, who are taxed only once. d. ability of owners to have hands-on management of the firm.
When costs that vary with the level of output are divided by the output, you have calculated
a. total changing cost. b. total fixed cost. c. average fixed cost. d. average variable cost.
The trade-to-GDP ratio for a nation that had $600 million in exports, $400 million in imports, and GDP of $2,000 million would be
A) 0.1. B) 0.2. C) 0.5. D) -0.1.