Chuck Stake never eats vegetables, although he can afford to buy them. According to the economic way of thinking, Chuck
A) must have a serious physiological aversion to vegetables.
B) was probably forced to eat them as a kid, and now hates them.
C) believes the additional benefits from eating vegetables are outweighed by the additional costs.
D) has studied economics enough to know that nobody needs to eat their vegetables.
C
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If the People's Bank of China adopted a flexible exchange rate policy
A) the U.S. dollar would depreciate. B) the U.S. dollar would appreciate. C) the yuan would depreciate. D) the yuan-U.S. dollar exchange rate would rise.
If actual inflation is lower than expected inflation,
A) there is a redistribution of wealth from borrowers to lenders. B) there is a redistribution of wealth from lenders to borrowers. C) there is no redistribution of wealth, but the total wealth in the economy increases. D) there is no redistribution of wealth, but the total wealth in the economy decreases.
If oligopolists engaged in some sort of collusion, industry output would be __________ and the price would be __________ than under perfect competition
a. smaller, lower b. smaller, higher c. smaller, no different d. greater, lower e. greater, higher
A decrease in the value of a currency relative to other currencies is called a(n):
A. depreciation. B. devaluation. C. appreciation. D. revaluation.