In the market for euros, the supply of euros (€) is
A) downward sloping, because lower dollar prices of euros mean that U.S. goods are cheaper to Europeans.
B) downward sloping, because higher dollar prices of euros mean that U.S. goods are cheaper to Europeans.
C) upward sloping, because higher dollar prices of euros means that U.S. goods are cheaper to Europeans.
D) upward sloping, because lower dollar prices of euros means that U.S. goods are cheaper to Europeans.
C
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A movie monopolist sells to students and adults. The demand function for students is QdS = 600 - 100P and the demand function for adults is QdA = 1,200 - 100P. The marginal cost is $2 per ticket. Suppose the movie theater can price discriminate. What price per ticket does the theater charge adults to maximize profits?
A. $4 B. $7 C. $6 D. $12
During the 1930s, labor legislation was
(a) generally favorable to organized labor. (b) generally unfavorable to organized labor. (c) generally neutral with regard to organized labor. (d) virtually the same compared to previous periods.
Which of the following statements best describes the relationship between price and quantity demanded for a given good or service?
a. A rise in price of a good or service almost always decreases the quantity demanded of that good or service. b. A rise in price of a good or service always decreases the quantity demanded of that good or service. c. A rise in price of a good or service almost always increases the quantity demanded of that good or service. d. A rise in price of a good or service always increases the quantity demanded of that good or service.
"The Great Depression was caused by the 1929 stock market crash.". Which of the following is an indication that this statement is false?
a. The stock market had regained most of its losses from the October 1929 crash by April 1930. b. The recessionary conditions actually began in the mid-1920s before the stock market crash. c. The Great Depression was a result of government failure to intervene in market activity. d. Economic theory indicates that a reduction in stock prices would reduce the consumer price index and thereby stimulate output and employment.