A. versatility and flexibility. B. rationality. C. pleasure or satisfaction. D. purposefulness
A. versatility and flexibility.
B. rationality.
C. pleasure or satisfaction.
D. purposefulness.
Answer: A
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In Figure 5.7, assuming perfect competition, which price(s) is associated with a loss? 
A. MR1 B. MR2 C. MR3 D. MR1 and MR2
Why does the appreciation of a country's currency tend to decrease its price level?
A. Domestic buyers tend to substitute domestic products for imports. B. A currency appreciation makes a country's products more competitive in world markets, so exports rise. C. A currency appreciation makes imported inputs more expensive. D. A currency appreciation makes imported inputs less expensive.
Most economists see the business cycle
A) as a regular pattern of recessions and expansions of the same length and intensity. B) occurring as a result of anticipated macroeconomic changes in the marketplace. C) as randomly occurring, resulting from unpredictable long-run changes in the macroeconomy. D) as resulting from the response of households and firms to macroeconomic shocks.
Which of the following is most likely to generate a surplus?
A) a price floor B) a price ceiling C) an illegal market D) all of these