The balance of payments surplus is the amount by which the quantity demanded of a country’s currency (per year) exceeds the quantity supplied.
Answer the following statement true (T) or false (F)
True
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What is meant by comparative statics? Assume that a firm wants to set up a factory. It considers four different locations
The rent of the factory space and the time taken to transport the products from each of the locations to the market is shown in the table below. It is also given that the opportunity cost of time is $10 per hour. a) Which is the optimum location? b) If the opportunity cost of time changes to $30 per hour, is there any change in the optimum? Location Time Taken to Transport Products to the Market (hours per month) Rent ($ per month) 1 180 3,000 2 150 3,200 3 100 3,600 4 60 4,100
The relationship between interest rates and investment spending is graphed as
A) a vertical line. B) a horizontal line. C) an upward sloping curve. D) a downward sloping curve.
What are the three key features of the financial system that result from the existence of transactions and information costs?
What will be an ideal response?
Clifford lives by the motto "Eat, drink, and be merry today, for tomorrow doesn't matter"
If today's consumption is represented by "x" and tomorrow's consumption is represented by "y," then which of the following best represents Clifford's utility function? A) U = x - y B) U = x/y C) U = x D) U = y