UPDATE!!!!GUARANTEED

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UPDATE!!!!2025/2026|GUARANTEED

"Shut Down" occurs when - ANSWER AVC>PRICE / When average variable cost is above the price and if TR < VC / When total rev is below the variable cost

How does monopoly set their price? - ANSWER Price>MC- Price is greater than the Marginal Cost

How are international rates set? - ANSWER Key word- floating- A floating rate is determined by the open market through supply and demand on global currency markets.Therefore, if the demand for the currency is high, the value will increase

What happens when supply increases but demand stays the same? - ANSWER there will be a surplus, and the price will go down.

Producer surplus/ who receives surplus? - ANSWER The amount a seller is paid for a good - the seller's cost of providing it/ the buyer

How are supply and demand related to the exchange rate of a country? - ANSWER If a country exports more than it imports, there is a high demand for its goods, and thus, for its currency. The economics of supply and demand dictate that when demand is high, prices rise and the currency appreciates in value.

What different political views exist on FDI? - ANSWER know that they have RADICAL views (the ANSWER selection included radicalism)

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What is resource similarity and how does this impact competitive dynamics? - ANSWER Resource similarity is the extent to which the firm's intangible resources are comparable to a competitor's in terms of both type and amount. This tends to reduce the variety of competitive actions that large firms launch while it increases the variety of actions undertaken by smaller competitor.

How are supply and demand related to the exchange rate of a country? - ANSWER If a country exports more than it imports, there is a high demand for its goods, and thus, for its currency. The economics of supply and demand dictate that when demand is high, prices rise and the currency appreciates in value.

How is the demand curve for a perfectly competitive firm distinct from the demand curve for a monopolistic market? - ANSWER Know that competitive is a horizontal line and monopolistic is a downward sloping

What fundamental truth is realized when studying the behavior of an oligopolistic firm within the context/model called "prisoner's dilemma"? - ANSWER Look for COOPERATIVE in the ANSWER on the OA

How might an oligopolistic firm behave like a monopoly? What forces may prevent this? - ANSWER Look for COMPETITION in the ANSWER on the

What tools does the Federal Reserve have with regards to monetary control? - ANSWER The discount rate, reserve requirements, open market operations, and interest on reserves. All four affect the amount of funds in the banking system.

What are the two primary categories of trade barriers that exist? - ANSWER Select two- tariff and non-tariff

How does GDP affect aggregated demand? - ANSWER GDP represents the total amount of goods and services produced in an economy while aggregate demand is the demand or desire for those goods. As a result of the same calculation methods, the aggregate demand and GDP increase or decrease together.

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