According to the theory of exchange-rate adjustments, a country with a current ________ is likely to experience a currency ________
A) deficit; depreciation
B) surplus; depreciation
C) deficit; appreciation
D) surplus; devaluation
A
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In the long-run, a firm in monopolistic competition produces an amount of output that sets
A) P > ATC and MR = MC. B) P > ATC and MR > MC. C) P = ATC and MR = MC. D) P = ATC and MR > MC.
One advantage of forecasts based on a VAR rather than separately forecasting the variables involved is
A) that VAR forecasts are easier to calculate. B) you typically have knowledge of future values of at least one of the variables involved. C) it can help to make the forecasts mutually consistent. D) that VAR involves panel data.
"I don't feel so good. I shouldn't have had that last doughnut." Which statement best describes this situation?
a. The marginal utility of the last doughnut was positive. b. The marginal utility of doughnuts is still increasing. c. The total utility from eating doughnuts is negative. d. The marginal utility of the last doughnut was negative. e. The marginal utility of the next doughnut will be positive.
Jody has purchased a non-refundable $75 ticket to attend a Miley Cyrus concert on Friday night. Subsequently, she is asked to go to out dinner at no expense to her. If she uses cost-benefit analysis to choose between going to the concert and going out to dinner, the opportunity cost of going out to dinner should include:
A. the cost of the ticket plus the entertainment value of the concert. B. only the cost of concert ticket. C. only the entertainment value of the concert. D. neither the cost of the ticket nor the entertainment value of the concert.