If a panic causes Indian depositors to withdraw their money from Japanese banks, it would cause the Japanese Yen to ___________, since the supply of Yen has__________
a. Appreciate; Decrease
b. Depreciate; Decrease
c. Appreciate, Increase
d. Depreciate; Increase
d
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Refer to Table 11.1. What is the value of GDP?
A) $7,450. B) $7,250. C) $7,150. D) $7,350.
If a Cournot duopolist announced that it will double its output
A) it becomes the leader. B) the other firm does not view the announcement as credible. C) the other firm will shut down. D) the other firm will double output also.
Goods are scarce when:
a. their price is too low. b. their price is too high. c. the amount people want is more than the amount available at a zero price. d. people want less of something as compared to what is available. e. their prices are controlled.
An identity is an equation that
a. describes an equilibrium. b. pertains to macroeconomics, not to microeconomics. c. must be true because of how the variables in the equation are defined. d. involves final goods, not intermediate goods.