If the dollars per euro exchange rate increased,
a. Americans would purchase fewer European goods
b. more U.S. firms would want to relocate to Europe
c. more American tourists would travel to Europe
d. the demand for euros would increase
e. Europeans would become more highly respected
A
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Refer to the figure above. What is the price effect of a price reduction from $6 to $4?
A) $300 B) $600 C) $900 D) $1,200
Which of the following is not common to perfect competition and monopolistic competition?
a. Free entry b. Many sellers c. Elimination of long run economic profits d. Product differentiation
The concept that it is very difficult to consistently pick winners in the stock market without inside information is known as: a. a random walk
b. a double coincidence of wants. c. the crowding out effect. d. arbitrage.
Figure 4-22
Because of falling oil prices in the past, Libya could afford fewer imported goods. Government controls were established to limit imports of cigarettes. In 1985, the market price of Marlboros rose to $70 a carton. Which graph in Figure 4-22 best depicts this situation?
a.
1
b.
2
c.
3
d.
4