Refer to the data. For Plan D marginal costs and marginal benefits are:
A. $72,000 and $64,000 respectively.
B. $28,000 and $12,000 respectively.
C. $24,000 and $18,000 respectively.
D. $16,000 and $28,000 respectively.
B. $28,000 and $12,000 respectively.
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If Ap is total autonomous planned spending, c is the marginal propensity to consume, s is the marginal propensity to save, and Y is the equilibrium income level, then induced saving is
A) Ap/Y. B) Y = Ap/s. C) sY. D) cAp.
Using a fixed exchange rate to undervalue your currency:
A. will increase your exports. B. will encourage capital flow to countries other than your own. C. makes imports very expensive for your citizens. D. All of these statements are true.
Answer the following statements true (T) or false (F)
1. As the price of U.S. dollars decreases, more foreign currency is required to purchase dollars. 2. If the exchange rate between the U.S. dollar and the Swiss franc changes from 75 cents per Swiss franc to $1 per Swiss franc, the dollar has depreciated, since its value has declined. 3. Appreciation of the U.S. dollar encourages travel abroad by U.S. citizens. 4. Under a system of floating exchange rates, exchange rates are allowed to rise or fall according to supply and demand. 5. A nation on the gold standard would convert its currency into gold on demand.
Perfect price discrimination is when a firm can charge each customer exactly what they are willing to pay.
Answer the following statement(s) true (T) or false (F)