On May 11, 2011, it cost 11.601 Mexican pesos to buy one U.S. dollar. How many U.S. dollars did it take to buy a Mexican peso?
a. $11.11
b. $10.82
c. $8.92
d. $0.09
d
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Which of the following exemplifies a microeconomic question?
A. Is the aggregate output in the economy greater this year than last year? B. What is the current national rate of unemployment? C. Is the economy experiencing a decline in the rate of inflation? D. Will a new type of electronic reader or tablet increase the number of buyers?
The opportunity cost of the financial resources used to finance the purchase of capital is
A) the price of the capital goods purchased. B) the real interest rate. C) the quantity of investment demanded. D) the supply of investment. E) capital investment.
Marginal cost is the:
A. rate of change in total fixed cost that results from producing one more unit of output. B. change in total cost that results from producing one more unit of output. C. change in average variable cost that results from producing one more unit of output. D. change in average total cost that results from producing one more unit of output.
The price of $10 in the graph above represents
A. a price floor.
B. a price ceiling.
C. either a price floor or a price ceiling.
D. neither a price floor nor a price ceiling.