Figure 36-4
?
Which of the situations illustrated in Figure 36-4 shows a currency depreciation leading to inflation?
A. 1
B. 2
C. 3
D. 4
Answer: B
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A farmer who sells September corn futures at the time he plants his corn in May is
A) competing against speculators, who profit from price fluctuations. B) increasing his risk from price fluctuations. C) reducing his risk from price fluctuations. D) reducing or increasing his risk from price fluctuations, depending on what subsequently happens to the price of corn.
Which of the following statements is correct?
a. Marginal social cost is the share of marginal cost caused by an activity that is paid for by the persons who carry out the activity. b. Marginal private cost is the share of marginal cost caused by an activity that is borne by persons other than those who carry out the activity. c. Marginal social cost is the sum of marginal private cost and incidental cost. d. Marginal private cost and incidental cost are one and the same.
Total cost is
a. the sum of variable cost and fixed cost. b. average variable cost times quantity. c. the sum of average fixed cost and marginal cost. d. the sum of fixed cost and average variable cost.
How is a family budget an exercise in managing scarcity? What role does income play?