If the cheeseburger costs $2, how many cheeseburgers would you buy
a. 1
b. 2
c. 3
d. 4
d
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The exchange rate between the United States and Japan
A) is fixed so it does not change. B) consistently decreases over time. C) does not exist. D) consistently increases over time. E) fluctuates, sometimes rising and sometimes falling.
Among the three major goals defined in the Clean Water Act are the
a. fishable-boatable goal b. use designation goal c. no toxics in toxic amounts goal d. no ocean dumping goal
Consider a Stackelberg duopoly with the following inverse demand function: P = 100 ? 2Q1 ? 2Q2. The firms' marginal costs are identical and are given by MCi(Qi) = 2. Based on this information, the leader's reaction function is:
A. r1(Q2) = 24.5 ? 0.5Q2 and r1(Q2) = 24.5 ? 0.5Q1. B. Q1 = 49 ? 0.5Q2 and Q2 = 49 ? 0.5Q1. C. The Stackelberg leader does not react to the output decision of its rival. D. r1(Q2) = 24.5 ? 0.5Q1 and r2(Q1) = 24.5 ? 0.5Q2.
Fiat money refers to a monetary system in which gold backs up paper money.
Answer the following statement true (T) or false (F)