Refer to Scenario 1-1. Using marginal analysis terminology, what is another economic term for the incremental revenue received from the sale of the last 3,000 cell phones?
A) marginal revenue B) gross profit C) sales revenue D) gross earnings
A
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All else equal, if U.S. stocks are perceived to have become riskier compared to financial investments in other countries, then the market equilibrium value of the exchange rate for the U.S. dollar will:
A. fall. B. become fixed. C. be equal to the value chosen by the Federal Reserve. D. rise.
Which of the following is (are) responsible for managing the money supply in the United States?
A) the Board of Governors B) the Federal Reserve Bank of New York C) the Federal Open Market Committee D) the twelve Federal Reserve Banks
Define the term "property rights." Explain why the lack of well-defined and enforceable property rights is detrimental to the smooth functioning of a market system
What will be an ideal response?
If a security pays $55 in one year and $133 in three years, its present value is $150 if the interest rate is
A) 5 percent. B) 10 percent. C) 12.5 percent. D) 15 percent.