Refer to Figure 18-1. The appreciation of the dollar is represented as a movement from
A) D to C. B) C to B. C) B to A. D) C to A.
A
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When the supply of a product increases but the demand for the product remains unchanged, the equilibrium price of the product will
a. fall, and equilibrium quantity will decrease. b. be unaffected. c. first rise and then return to the original price level. d. fall, and equilibrium quantity will increase.
If output more than doubles when all inputs are doubled, production is said to occur under conditions of
A) increasing returns to scale. B) imperfect competition. C) intraindustry trade. D) interindustry trade.
The monopolist
A. is a perfect competitor. B. has a horizontal demand curve. C. produces where MC equals MR. D. None of the choices are correct.
If the money stock grows by 13 percent, and during that same time nominal GDP grows by 3.3 percent, what can we deduce happens to velocity during this period?
A. It remained constant. B. It rose. C. It fell. D. We cannot tell without knowing what happened to prices.