If the Fed lowers the interest rate in the U.S., ________
A) the U.S. net exports will decrease
B) the demand curve for dollars will shift to the left
C) the demand curve for dollars will shift to the right
D) the real exchange rate of the U.S. will appreciate
B
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Angela, Bonnie, and Carl are visiting the local paint store. Angela, owner of Angela's Artful Painting Co, is posting a Help Wanted sign because she is looking for more painters to join her crew. Bonnie, who is a sole proprietor, is placing an order for 12 gallons of green paint. Carl is a painter who is looking for a job and is reading the bulletin board in the paint shop. Who is operating in
the short run? a. Angela and Bonnie b. Angela and Carl c. Angela only d. Bonnie only e. Carl only
A Detroit business advertises, "The more we sell, the lower the price, and the lower the price, the more we sell." This firm is experiencing
a. decreasing returns to scale. b. constant returns to scale. c. increasing returns to scale. d. abnormal demand patterns.
If total cost is 100, total fixed cost is 30, and output is 20, average variable cost is 3.5.
Answer the following statement true (T) or false (F)
In the model of perfect competition, the market demand curve is found by
A) a marketing analysis. B) taking the demand curve of a "representative consumer" and expanding it by the number of consumers of the good. C) horizontally summing the demand curves of individual consumers. D) horizontally summing the supply curves of individual firms.