Which of the following is not consistent with the basic postulate of economics that incentives matter?
What will be an ideal response?
Farmers produce fewer bushels of wheat in response to an increase in the price of wheat
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If oranges sell for $100 per crate in the United States and 4000 pesos per crate in Mexico, the law of one price indicates that you should be able to exchange $1 for
A) 0.025 peso. B) 4 pesos. C) 40 pesos. D) 400 pesos.
If a firm produces 10 units, TC=$100 . When the firm increase its output to 15 units, TC= $150 . The firm's variable costs equal to
a. $25 b. $0 c. $50 d. $100
With fixed exchange rates, the imbalance between debits and credits arising from shifts in currency demand and/or supply: a. is accommodated by the market mechanism. b. is accommodated by financial borrowings. c. is accommodated by reserve movements
d. either (b) or (c)
Which of the following is best considered a demand factor in economic growth?
A. The quantity of human resources B. The quality of natural resources C. The stock of capital goods D. The full employment of resources