If the demand for apples decreases at the same time the supply of apples increases, the price of apples will tend to fall
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following is NOT an asset of the Federal Reserve System?
A) mortgage-backed securities B) reserves of depository institutions C) U.S. government securities D) None of the above are correct because they are all assets of the Federal Reserve.
Suppose a technological innovation shifts the marginal cost curve downward. Which one of the following cost curves does NOT shift?
A) Firm's short-run supply curve B) Average total cost curve C) Average variable cost curve D) Average fixed cost curve
One reason why economists often use models in their analysis is that
A) a model helps us to understand, explain, and predict economic phenomena in the real world. B) a model accurately pictures every detail of the real world economy. C) a model relates to individual thought processes rather than behavior. D) it is relatively easy to perfectly specify a model.
If we know that the exchange rate is 0.8 dollars per euro, then we know that the exchange rate of euros per dollars is
a. 0.8 b. 1.8 c. 1.25 d. less than 1.0 e. 5