A decrease in the supply of dollars and a decrease in the demand for Indian rupees
A. decreases the rupee price of dollars.
B. does not change the exchange rate between dollars and rupees.
C. increases the dollar price of rupee.
D. decreases the dollar price of rupee.
Answer: D
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Suppose that a pure monopoly calculates that at its present output level, marginal revenue is $1 and marginal cost is $2. The monopoly could maximize profits or minimize losses by ________.
A. increasing price and decreasing output B. increasing price and increasing output C. leaving price unchanged and decreasing output D. decreasing price and leaving output unchanged
If a price floor is not binding, then a. the equilibrium price is above the price floor. b. the equilibrium price is below the price floor. c. there will be a surplus in the market
d. Both (a) and (c) are correct.
In which one of these years was labor union membership the highest?
A. 1940 B. 1960 C. 1980 D. 1990
If demand is inelastic and the price of a product decreases by 100 percent, then
A) the change in quantity demanded is less than 100 percent. B) the change in quantity demanded is equal to 100 percent. C) the change in quantity demanded is greater than 100 percent. D) the decrease in quantity demanded is greater than 0 percent.