The phrase "a weaker U.S. dollar" means that the dollar
a. has been depreciating
b. has been appreciating
c. is not in equilibrium on the foriegn exchange market
d. is fluctuating greatly
e. buys less than one unit of a foreign currency
A
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People base their labor supply on the ________ because they care about ________
A) real wage; what their earnings will buy B) real wage; the equality of money wages and the price level C) money wage; a surplus of labor D) money wage; the amount of labor firms demand
Even if two competitive firms in the same market have different production technologies, they will each earn long-run zero profits. Why?
What will be an ideal response?
An economic slow-down predicts the new equilibrium wage would be:
A. lower because the labor demand curve shifts left. B. higher because the labor demand curve shifts left. C. lower because the labor demand curve shifts right. D. higher because the labor demand curve shifts right.
The assignment of inputs to specific industries by central planners is made difficult by
A. the interdependency among industries. B. lack of data for decision making. C. the danger of a chain reaction among industries if an error is made at any point. D. All of the responses are correct.