In the short run, if marginal product is at its maximum, then
A) average variable cost is at its minimum. B) total cost is at its maximum.
C) marginal cost is at its minimum. D) average cost is at its minimum.
C
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What is true of stock exchanges in the United States?
A. There are two major stock exchanges in New York, several smaller regional exchanges across the nation, and over-the-counter trading via NASDAQ. B. The New York Stock Exchange is the only stock exchange in the United States. C. There are only two stock exchanges, NYSE and AMEX. D. There are only three stock exchanges, NYSE, AMEX, and NASDAQ.
People typically buy more of a product at low price than at a high price
a. true b. false
Banks help savers find productive uses for their funds because banks are specialized in:
A. gathering information about and evaluating potential borrowers. B. securing government guarantees for loans. C. evaluating the riskiness of stocks. D. obtaining preferential tax treatment for savers.
Use the following graph to answer the next question.
Assume that Japan and the United States are engaged in a system of flexible exchange rates. An increase in the demand for yen will result in a(n) ________.
A. appreciation of the U.S. dollar B. decrease in the dollar price of yen C. depreciation of the U.S. dollar D. depreciation of the Japanese yen