Freely floating exchange rates are determined by
A. the forces of supply and demand for currencies.
B. the government with a trade surplus.
C. the government with a trade deficit.
D. the IMF.
A. the forces of supply and demand for currencies.
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According to the textbook application, the EPA reported in 1993 that
a. secondhand smoke was a carcinogen b. secondhand smoke was prohibited from public places c. secondhand smoke did not pose a human health risk d. none of the above
Suppose there are two cities that have rent controlled apartments. In one city (Albany) all apartments are subject to rent control; in the other city (Halftrack) one-half of the apartments are rent controlled
Which of the following is most likely to be true? A) It will be easier to find an affordable apartment in Halftrack, either a rent-controlled apartment or another apartment, at a reasonable price. B) It will be difficult to find a rent-controlled apartment in Albany or Halftrack; rents for the Halftrack apartments not subject to controls will be higher than they would be without rent control. C) It will be easier to find an affordable apartment in Albany since rents will be low across the board. D) It will be impossible to rent an apartment in either city at any price.
The price system rations goods among consumers in such a way that
A. all are treated equally. B. all needs are satisfied. C. the rich are favored. D. important needs are satisfied first.
Jessica owns a company that makes pre-packaged sandwiches for convenience stores. The market price for a sandwich is $5 and Jessica is a price-taker. Her daily variable cost for making sandwiches is C(Q) = 2.5Q + (Q2/40) and her marginal cost is MC = 2.5 + (Q/20). What is the average cost of a sandwich at the quantity of sandwiches Jessica should be selling each day?
A. $1.25 B. $2.50 C. $3.75 D. $6.25