Less-risky professions tend to enjoy compensating wage differentials
a. True
b. False
B
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Currency traders expect the dollar to appreciate. What impact will this have on equilibrium in the foreign exchange market?
A) The dollar will appreciate, and the equilibrium quantity of dollars will increase. B) The dollar will depreciate, and the equilibrium quantity of dollars exchanged will decrease. C) The dollar will appreciate, and the equilibrium quantity of dollars will decrease. D) The dollar will appreciate, and the change in the equilibrium quantity of dollars exchanged cannot be determined.
Product differentiation always exists in
A) perfect competition. B) monopolistic competition. C) oligopoly. D) monopoly.
In the long run, a monopolistically competitive firm will produce where:
a. average cost equals price. b. average cost equals marginal revenue. c. marginal revenue equals price. d. marginal cost equals price.
The long-run aggregate supply curve is vertical at
A. potential output. B. the actual level of nominal output. C. 100% employment of the labor force. D. the actual level of real output.