In: Economics
1 The purchases of items from foreigners will be equal to the sales of items to foreigners.
True
False
2 The following chart indicates a hypothetical newspaper quotation of the exchange rates of various currencies.
|
U.S. Dollar Equivalent |
||
|---|---|---|
|
February 1 |
February 2 |
|
| British pound | 1.99 | 1.975 |
| Canadian dollar | 0.645 | 0.86 |
On February 2, the U.S. dollar (appreciated /depreciated) against the British pound.
On February 2, the U.S. dollar (appreciated /depreciated) against the Canadian dollar.
3
Suppose the exchange rate between the United States and Mexico freely fluctuates in the open market.
Indicate whether each of the following would cause the dollar to appreciate, depreciate or remain unchanged relative to the peso.
|
Appreciate |
Depreciate |
No change |
||
|---|---|---|---|---|
| Higher real interest rates in Mexico induce U.S. citizens to move some of their financial investments from U.S. to Mexican banks. | ||||
| Lower real interest rates in the United States induce Mexican investors to borrow dollars and then exchange them for pesos. | ||||
| As a result of a Mexican oil discovery, Pemex, the Mexican oil company, increases the quantity of drilling equipment it purchases in the United States. |
4 Economies with sluggish growth often run trade surpluses.
True
False
In: Economics
In: Economics
In: Economics
In: Economics
Stackelberg Leader-Follower duopolists face a market demand curve given by P = 120 - 3Q where Q is total market demand. Each firm can produce output at a constant marginal cost of 20 per unit. The equilibrium price for the total market will be...?
In: Economics
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In 500-1000 words (1-2 pages, double-spaced), provide an explanation of "Socioeconomic Status/Poverty and climate change – i.e. extreme weather (harsher winters and summers) and droughts, as two outcomes of climate change, disproportionately affect poorer individuals" and why/how it affects populations as a matter of public health. You can use the provided examples above as a starting point, but they cannot be the only example you provide.
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3 - From the following data about the demand for dishwashers, calculate the elasticity of demand from point A to B, from point C to D and from point E to point F. Classify the elasticity as elastic, inelastic or unitary elastic. Also calculate the total revenue of each point. What happens to total revenue as you approach unitary elasticity? If cost were not an issue what price would you choose for your selling price?
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In: Economics
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In: Economics