Economics studies the consequences of
A) choices made by individuals.
B) choices made by businesses.
C) choices made by governments.
D) choices made by society.
E) choices made by the entire planet earth.
A
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The table above shows the exchange rates between various currencies and the U.S. dollar. Between 2015 and 2016, the Euro ________ against the U.S. dollar, the U.S. dollar ________ against the Japanese yen and the U.S
dollar ________ against the Canadian dollar A) depreciated, appreciated, appreciated B) depreciated, depreciated, appreciated C) appreciated, appreciated, appreciated D) appreciated, depreciated, depreciated
The experience of sub-Saharan Africa, as compared to that of "Other Asia" (not including the HPAEs) supports the argument that
A) high rates of protection tend to harm economic growth. B) the poorer is the country the easier it is for it to "catch up" economically. C) low rates of protection tend to promote economic growth. D) free trade always best stimulates a developing country's economy. E) neither trade liberalization nor import substitution is a foolproof strategy for economic development.
A multi-plant firm has three plants and, at its current production levels, the marginal cost of production at each of the three plants is $2.00. If the firm is perfectly competitive and the market price of its product is $5, which of the following is true?
A) The firm should exactly triple output in each of the plants to maximize profit. B) The firm is not producing the profit-maximizing total output. C) The firm is producing the profit-maximizing total output. D) The firm should increase output at each of the plants to maximize profit.
As the dollar depreciates relative to the Russian ruble, U.S. goods become cheaper for Russians to purchase. Therefore, in the foreign exchange market, the:
A. supply curve of dollars is downward sloping. B. demand curve for dollars is downward sloping. C. supply curve of euros is downward sloping. D. demand curve for euros is upward sloping.