"Currency appreciation" means the price of the currency is decreasing
Indicate whether the statement is true or false
FALSE
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Other things being equal, a higher price induces
A) buyers to reduce the amount they want to buy and sellers to increase the amount they are willing to sell. B) buyers to increase the amount they want to buy and sellers to reduce the amount they are willing to sell. C) buyers to reduce the amount they want to buy and sellers to reduce the amount they are willing to sell. D) buyers to increase the amount they want to buy and sellers to increase the amount they are willing to sell.
As producers have more time to adjust to a price change, price elasticity of supply
a. increases b. decreases c. remains the same d. rises and then falls e. falls and then rises
If aggregate demand shifts to the left by $400 billion and aggregate supply is upward-sloping, then real output will decrease by
A. More than $400 billion, and the price level will not change. B. $400 billion, and the price level will not change. C. Less than $400 billion, and the price level will fall. D. $400 billion, and the price level will fall.
Currently, a monopolist's MR = $5 and its MC = $10 and it serves 10 consumers. An 11th consumer walks in. Should the company provide service to the additional customer?
A. Yes, MC is equal to the number of customers, so it should provide service to the additional customer. B. No, MR < MC, so it should not provide service to the additional customer. C. No, MR is less than the number of customers, so it should not provide service to the additional customer. D. Yes, MR < MC, so it should provide service to the additional customer.