If the dollar falls from 1.25 euros to 1.00 euro, then the dollar has ________ and the euro has ________
A) depreciated; depreciated
B) depreciated; appreciated
C) appreciated; appreciated
D) shrunk; grown
E) appreciated; depreciated
B
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In 2012, Ben Bernanke expressed which concern about persistently high unemployment?
A) It would result in high inflation. B) It would result in structural damage to the economy that would last for years. C) It would never decline to desired levels. D) It would cost him his job.
Yeinsen Cookies produces cookies famous for their unique flavors. The elasticity of demand for cookies is equal to 0.62 when the price is $4.20 per pound. If the price of cookies increases to $4.50 per pound, which of the following is most likely to happen?
a. The total revenue earned by the company will fall. b. The total revenue earned by the company will rise. c. The quantity demanded of the cookies will increase. d. The quantity supplied of the cookies will decrease.