An increase in the dollar price of the English pound will
A. increase the supply of dollars.
B. decrease the supply of pounds.
C. cause an increase in the pound price of the dollar.
D. cause a decrease in the pound price of the dollar.
D. cause a decrease in the pound price of the dollar.
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XYZ Gadget Company is currently considering which investment projects it should undertake. The following list of projects along with the estimated rate of return of each project is presented to the executive management team:Project A (9%)Project B (7.5%)Project C (6%)Project D (11%)Project E (5.5%)The current interest rate in the loanable funds market is 7%. However, the government is considering an increase in government borrowing to implement fiscal policy. How high would interest rates need to go to induce the company to drop all but one of its planned investment projects?
A. Above 9% B. Above 7% C. Above 7.5% D. Above 11%
If the quantity of corn is such that the marginal cost of corn is greater than the marginal benefit of corn, then I. there is a deadweight loss. II. more than the efficient quantity of corn is produced
A) Only I is correct. B) Only II is correct. C) Both I and II are correct. D) Neither I nor II is correct.
A normal profit is
A) revenues minus opportunity cost of zero. B) revenues minus accounting cost of zero. C) a zero accounting profit. D) revenues minus accounting and opportunity cost of zero.
The upward-sloping portion of a long-run average total cost curve is the result of
a. economies of scale. b. diseconomies of scale. c. diminishing returns. d. the existence of fixed resources.