A monopolist sells 100 units at $10 per unit and 90 units at $15 per unit. The marginal revenue from the tenth unit is

If the exchange rate changes from 1.5 euros per dollar to 1.0 euro per dollar, the euro has

A) depreciated against the dollar. B) appreciated against the dollar. C) fallen inversely in value. D) depreciated against the euro. E) appreciated against the euro.

The experience of Paul Volcker's fight against inflation during the late 1970s and early 1980s indicates that firms and workers

A) had adaptive expectations. B) had rational expectations and that they trusted Fed announcements. C) preferred high unemployment to high inflation. D) Both A and B are correct answers.