If the U.S. dollar was worth 0.8 euros, and the dollar appreciated, it might now be worth:
A. 0.9 euros.
B. 0.7 euros.
C. 0.8 euros.
D. None of these statements is possible.
Answer: A
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If the price elasticity of demand for a good is 2, then a 10 percent increase in the price of that good ________ the quantity demanded by ________ percent
A) increases; 20 B) decreases; 2 C) decreases; 10 D) decreases; 20 E) increases; 8
The Darby (1976) revisions of the 1930s unemployment data show that if you count public employment, then the 1930s were not especially severe by historical standards
Indicate whether the statement is true or false
Can bankers create money? a. No, they do not have this power
b. No, unless they have a special charter which permits it. c. Yes, through multiple deposit creation. d. Yes, by printing checks for customers.
A firm will use more and more labor until the marginal revenue product of labor
A. rises to the level of the wage rate. B. falls to the level of the wage rate. C. rises above the wage rate. D. falls below the wage rate.