In regression analysis, the dependent variable
A) is always quantity demanded.
B) is the variable whose variation is to be explained.
C) is one of the factors that explains what is happening with demand.
D) is represented by the inverse demand function.
B
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The above figure shows a perfectly competitive firm. If the market price is $5 per unit, the firm
A) will definitely shut down to minimize its losses. B) will stay open to produce and will make zero economic profit. C) will stay open to produce and will incur an economic loss. D) will stay open to produce and will make an economic profit. E) might shut down but more information is needed about the fixed cost.
All of the following explain why purchasing power parity does not completely explain long-run fluctuations in exchange rates except
A) some countries impose barriers to trade. B) not all goods and services produced in any country are traded internationally. C) most countries have free markets with little, if any, government regulation. D) consumer preferences for goods and services differ across countries.
If interest rates in Sweden go up relative to the rest of the world, the
A) demand for Swedish currency will fall. B) demand for Swedish currency will rise. C) supply of Swedish currency will fall. D) supply of Swedish currency will rise.
The interest rate:
A. is the price of borrowing money for a specified period of time. B. determines the total amount that must be paid back on a loan. C. is expressed as a percentage per dollar borrowed and per unit of time. D. All of these are true.