According to the law of supply in the foreign exchange market, when the U.S. exchange rate rises, the quantity of U.S. dollars supplied will decrease
Indicate whether the statement is true or false
FALSE
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If the demand curve increases while the supply curve remains unchanged, the equilibrium price would decrease
a. True b. False Indicate whether the statement is true or false
If a consumer has an income of $120, the price of X is $5, and the price of Y is $8. Which combination of the two goods is unattainable?
A. 2X and 13Y. B. 8X and 10Y. C. 12X and 8Y. D. 20X and 2Y.
?Kites /hourSnowboards /hourJesse81April123
Consider two individuals, Jesse and April, who hand paint kites and snowboards. Table 18.2 shows how much of each good Jesse and April can paint in one hour. Which of the following is TRUE?
A. April has a comparative advantage in painting kites but not snowboards. B. April has a comparative advantage in painting snowboards but not kites. C. April has a comparative advantage in painting both goods. D. April does not have a comparative advantage in painting either good.
Recall the Application about choosing a price for drones based on a linear demand curve to answer the following question(s).Recall the Application. Suppose a firm that produces drones has a linear demand curve for its product, with a vertical intercept of $1,500. If the firm initially charged a price of $500 and then raised its price to $750, the firm's total revenue would ________ and total cost would ________.
A. increase; increase B. increase; decrease C. decrease; increase D. decrease; decease