Which of the following functions is least likely to represent a real demand curve?
A) Q = 120 - 2P
B) Q = 120 - 3P + 2I
C) Q = 120/P
D) Q = 120 + 3P - 2I
E) Q = 120/(Pa + Pb)
D
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If the marginal propensity to import is ________, then a $2 trillion increase in disposable income would increase import expenditure by $0.2 trillion
If the marginal propensity to import is ________, then a $2 trillion increase in disposable income would increase import expenditure by $0.6 trillion. A) 0.1; 0.3 B) 0.6; 2.0 C) 0.2; 0.6 D) 1.0; 3.0 E) 0.3; 0.1
If average cost is declining,
a. marginal cost must be below average cost. b. firms would go bankrupt if all prices were set equal to marginal costs. c. marginal cost may be declining or increasing. d. All of the above are correct.
GTD Tea is produced by a four-step process. For the tea grower, the value of the tea is $1.00. For the tea processor, the value of the tea is $1.50. For the tea shipper and wholesaler, the value of the tea is $2.25. And finally, for GTD, the value of the tea is $3.25. Using the value added method, what is the total value added for this tea?
a. $2.75 b. $3.00 c. $3.25 d. $3.50
Considering the foreign exchange market, identify four causes for an increase in the supply of dollars.
What will be an ideal response?