In the graph shown, what change would increase production efficiency?
A. Moving from C to D
B. Moving from D to B
C. Moving from A to D
D. Moving from A to B
Answer: B
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If the expected future U.S. exchange rate falls, then in the foreign exchange market the current
A) supply of dollars decreases. B) demand for dollars increases. C) quantity supplied of dollars decreases. D) supply of dollars increases. E) quantity supplied of dollars increases.
When price was 10, quantity demanded was 50. When price decreased to 8, quantity demanded increased to 60. Therefore, when price decreased, total revenue
A. decreased from 500 to 480, indicating that demand is inelastic. B. decreased from 500 to 480, indicating that demand is elastic. C. increased from 480 to 500, indicating that demand is inelastic. D. increased from 480 to 500, indicating that demand is elastic.
Crowding out suggests that debt promotes overconsumption
Indicate whether the statement is true or false
Kip will work fewer hours if his salary increases. For Kip, the ________ effect must outweigh the ________ effect.
A. substitution; income B. income; utility C. income; substitution D. utility; substitution