In the 15th century, _____ rose to prominence in trade with areas to the east of Europe, while _____ dominated trade with the West
a. Venice; England
b. Italy; Denmark
c. Portugal; Spain
d. France; Holland
c. Portugal; Spain
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Assume that at the current level of output, price equals marginal revenue, but is less than average total cost. So long as price is greater than average variable cost, the firm should continue to operate in the short run to minimize its losses
Indicate whether the statement is true or false
If there is an increase in foreign financial investment in the United States as the result of large U.S. budget deficits and attractive interest yields,
a. fiscal policy will be more expansionary since there will be no crowding-out effect. b. fiscal policy will be more expansionary since U.S. residents will increase their savings, so they can repay the foreigners in the future. c. foreign exchange value of the dollar will depreciate, which will lead to an increase in net exports and aggregate demand. d. foreign exchange value of the dollar will appreciate, which will lead to a decrease in net exports and aggregate demand.
Suppose a central bank tries to keep exchange rates fixed. When there is an increase in the demand for foreign goods, the central bank will most likely
A) buy foreign currency in exchange for the domestic currency. B) do nothing. C) sell the domestic currency in exchange for foreign reserves. D) use foreign reserves to buy the domestic currency.
Refer to the information provided in Figure 8.4 below to answer the question(s) that follow. 
Figure 8.4 Refer to Figure 8.4. If twelve microwave ovens are produced, Micro Oven's total costs are
A. $300. B. $500. C. $800. D. $1,300.