If the price of a foreign currency rises, we say there has been an appreciation of the domestic currency
a. True
b. False
B
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An increase in demand for a good can be caused by
A) a decrease in the price of a substitute good. B) a reduction in income if the good is a normal good. C) a decrease in the price of a complementary good. D) an increase in price of a complementary good.
The marginal cost of collecting information:
A. is independent of the amount of information that has already been acquired. B. is now zero because of the Internet. C. falls as more information is collected. D. rises as more information is collected.
In 1929, the CPI equaled 0.171 and in 1930, the CPI equaled 0.167. These data provide evidence of a period of:
A. inflation. B. trade deficit. C. deflation. D. expansion.
If regulators force a natural monopoly to price as a perfectly competitive firm would, the natural monopolist
A. will experience a rise in long-term average costs. B. will experience a lower marginal cost. C. will expand its output. D. will earn an economic loss.