An American good with a price tag of $89 costs 809 pesos. The exchange rate must be approximately
A) $11.00 = 1 peso
B) $0.11 = 1 peso
C) $0.89 = 1 peso
D) $0.09 = 1 peso
E) none of the above
B
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A perfectly competitive firm will maximize profit when the quantity produced is such that the
A) firm's total revenue is equal to total cost. B) firm's marginal revenue is equal to the price. C) firm's marginal revenue is equal to its marginal cost. D) price exceeds the firm's marginal cost by as much as possible. E) firm's marginal revenue exceeds its marginal cost by the maximum amount possible.
Refer to the figure above. If a per-unit tax of $1.50 is imposed on the sale of Good X, what is the size of the deadweight loss due to taxation?
A) $5 million B) $7.5 million C) $1.5 million D) $2 million
A corporation acquires new funds only when its securities are sold in the
A) primary market by an investment bank. B) primary market by a stock exchange broker. C) secondary market by a securities dealer. D) secondary market by a commercial bank.
Which of the following will not shift the production possibilities curve outward?
a. an improvement in technology, which increases the efficiency of inputs b. the discovery of significant oil reserves in Alaska c. a decrease in capacity utilization of existing factories d. additions to the stock of physical capital