The foreign exchange rate describes the
A) balance of trade.
B) balance of payments.
C) law of comparative advantage.
D) price of foreign currency in terms of domestic currency.
D
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Which of the following would shift the supply curve to the left?
A) A fall in the expected future price of the good B) A rise in the expected future price of the good C) A rise in technology that lowers the cost of producing the good D) A positive supply shock that brings more output onto the market
If a firm's output more than doubles when all inputs are doubled, production is said to occur under conditions of
A) increasing returns to scale. B) imperfect competition. C) intra-industry equilibrium. D) constant returns to scale E) decreasing returns to scale.
In addition to being subject to the Fed's reserve requirements, the banks are also required to maintain a capital requirement, which is
A) the ratio of its deposits to its reserves. B) the ratio of its loans to its reserves. C) the ratio of its total assets to its total liabilities. D) the ratio of its equity to its total assets.
Average cost is the cost of producing the next unit
a. True b. False Indicate whether the statement is true or false