In 2010, about
A) 20 percent of foreign exchange transactions involved exchanges of foreign currencies for U.S. dollars.
B) 10 percent of foreign exchange transactions involved exchanges of foreign currencies for U.S. dollars.
C) 30 percent of foreign exchange transactions involved exchanges of foreign currencies for U.S. dollars.
D) 40 percent of foreign exchange transactions involved exchanges of foreign currencies for U.S. dollars.
E) 85 percent of foreign exchange transactions involved exchanges of foreign currencies for U.S. dollars.
E
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In comparing monopoly to a perfectly competitive market, which of the following is false?
A) Market price will be higher under monopoly. B) Equilibrium quantity will be higher under perfect competition. C) Consumers will be worse off with the monopoly. D) Employment will be higher under monopoly.
Refer to Scenario 7.3. What is the total cost of producing 200 units of output?
A) 100 B) 1000 C) 1500 D) 2000 E) none of the above
This figure displays the choices being made by two coffee shops: Starbucks and Dunkin Donuts. Both companies are trying to decide whether or not to expand in an area. The area can handle only one of them expanding, and whoever expands will cause the other to lose some business. If they both expand, the market will be saturated, and neither company will do well. The payoffs are the additional profits (or losses) they will earn.The outcome of the game in the figure shown will be:
A. Starbucks will expand and Dunkin Donuts will not. B. Starbucks and Dunkin Donuts will both expand. C. Starbucks will not expand and Dunkin Donuts will. D. neither Starbucks nor Dunkin Donuts will expand.
Suppose an oligopolistic firm assumes that its rivals will ignore a price increase but match a price cut. In this case, the firm perceives its demand curve to be:
A. kinked, being steeper above the going price than below. B. kinked, being steeper below the going price than above. C. linear, being more elastic at higher prices. D. linear, being less elastic at lower prices.