In a fixed exchange rate system, an increase in the exchange rate at which a currency is pegged is called a(n)
A) devaluation. B) revaluation. C) depreciation. D) appreciation.
B
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Indicate whether the statement is true or false
A decrease in the price of pizza will lead to a(n):
A. increase in the demand for pizza. B. increase in the quantity of pizza demanded. C. decrease in the number of consumers. D. decrease in the quantity of pizza demanded.
If marginal cost exceeds average total cost in the short run, then which is likely to be true?
A. Average total cost is increasing B. Average variable cost is decreasing C. Average total cost is less than average variable cost D. Marginal cost is less than average variable cost
Suppose that over the next few years the demand for dancing to country and western music decreases. Hence, at country and western dance clubs the equilibrium price of admission ________ and the equilibrium quantity of dancing ________
A) rises; increases B) rises; decreases C) falls; increases D) falls; decreases E) does not change; decreases