The most prestigious stock market in the world is the
A) New York Stock Exchange.
B) Chicago Mercantile Exchange.
C) London Stock Exchange.
D) Tokyo Stock Exchange.
A
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Refer to Goods X and Y. Suppose the consumer is spending all of his income buying some of both goods. If the marginal value of X is greater than the relative price of X, how can the consumer improve his level of satisfaction?
Assume that good X is on the horizontal axis and good Y is on the vertical axis in the consumer-choice diagram. PX denotes the price of good X, PY is the price of good Y, and I is the consumer's income. Unless otherwise stated, the consumer's preferences are assumed to satisfy the standard assumptions. a. By purchasing more of both goods. b. By purchasing more of good X and less of good Y. c. By purchasing more of good Y and less of good X. d. The consumer cannot improve his level of satisfaction because he is at the optimum.
Which of the following correctly identifies a method to restore an economy to full employment, if it is operating below full employment due to a decrease in net exports?
A) Reduce the interest rate. B) Increase the real exchange rate. C) Reduce the investment in the economy. D) Reduce the demand for goods and services in the economy.
The legally established value of a country's monetary unit in terms of another under the Bretton Woods system was called the
A) exchange rate. B) dirty float. C) special draw. D) par value.
Suppose a firm in a competitive market produces and sells 8 units of output and has a marginal revenue of $8 . What would be the firm's total revenue if it instead produced and sold 4 units of output?
a. $4 b. $8 c. $32 d. $64