As output expands from 199 to 200 units, total costs rise from $2,985 to $3,000. At this stage, the marginal cost and average cost of production are
A. $1 and $200.
B. $1.
C. $15 and $15.
D. $29.85 and $15.00
Answer: C
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Assuming no change in the nominal exchange rate, how will a lower rate of inflation in the United States relative to Canada affect the real exchange rate between the two countries? (Assume the United States is the "domestic" country.)
A) The real exchange rate will rise. B) The impact on the real exchange rate cannot be predicted. C) The real exchange rate will be unaffected. D) The real exchange rate will fall.
The United States and Canada trade hockey skates and apple pie. If the United States has an absolute and a comparative advantage in the production of apple pie, then:
A. Canada must have the comparative advantage in the production of skates. B. Canada must have the absolute advantage in the production of skates. C. Canada must have the absolute and comparative advantage in the production of skates. D. the United States must also have the comparative advantage in the production of skates.
In the United States (and in this course), financial institutions' reserves include:
a. Cash in the vault and deposits at other institutions. b. Cash in the vault and deposits at the central bank. c. Cash in the vault and AAA corporate securities. d. Currency in circulation and checking accounts. e. Short-term Treasury bills and government deposits are institutions'.
A tie-in sale is a business practice where a business:
A. requires a customer of a product to purchase another product. B. requires another business to purchase its product. C. gives a customer a discount on future purchases of the same product. D. gives a customer a discount on future purchases of a different product.