If, in response to a decrease in the price of coffee, the quantity of coffee demanded increases, economists would describe this as
A) an increase in consumers' taste for coffee. B) an increase in quantity demanded.
C) a change in consumer income. D) an increase in demand.
B
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Exxon Mobil wants to pay 160,000 to a German supplier. They get an exchange rate quotation from its own commercial bank and instructs it to debit their dollar account and pay 160,000 to the supplier's German account
If the exchange rate quoted is $1.2 per euro, how much is debited to Exxon Mobil's account? A) $160,000 B) $172,000 C) $180,000 D) $192,000 E) $150,000
During the short-run period of the production process, a firm will be
a. unable to vary any of its factors of production. b. able to vary only some of its factors of production. c. able to vary all of its factors of production. d. able to vary the size of its plant.