Assume Mimi's budget constraint is shown in the graph shown. If earrings cost $7, then hairbands must cost:
A. $3.50.
B. $7.
C. $5.25.
D. $4.
A. $3.50.
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If a panic causes Indian depositors to withdraw their money from Japanese banks, it would cause the Japanese Yen to ___________, since the supply of Yen has__________
a. Appreciate; Decrease b. Depreciate; Decrease c. Appreciate, Increase d. Depreciate; Increase
In general output per hour rises at _____ real wages.
A. a much higher rate than B. a somewhat higher rate than C. about the same rate as D. a somewhat lower rate than
Oligopolies can be characterized as a strategic game among rival companies.
Answer the following statement true (T) or false (F)
Assume an economy experiences, for a given period, a 1% increase in output and a 5% increase in productivity. Given this information, we know that which of the following occurred for this economy during this period?
A) The unemployment rate increased during this period. B) The unemployment rate decreased during this period. C) The unemployment rate did not change during this period. D) The effects on the unemployment rate are ambiguous. E) none of the above