Suppose the real exchange rate of 10 Mexican pesos to the dollar changes to 9 pesos to the dollar. In this situation, the dollar has ________________, making Mexican goods __________ expensive for Americans
A) appreciated; less
B) appreciated; more
C) depreciated; less
D) depreciated; more
D
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The long-run Phillips curve applies when the economy is at full employment, so the long-run Phillips curve is ________, which demonstrates that changes in the inflation rate ________ effect on unemployment
A) horizontal; have no B) an upward sloping straight line with a 45 degree slope; have an C) vertical; have no D) vertical; have an E) a downward sloping straight line with a 45 degree slope; have an
A change in the wage causes a shift in the supply curve for labor and a
A) shift along the demand curve for labor. B) shift in the demand curve for labor. C) rotation in the demand curve for labor. D) It cannot be determined by the information provided.
Marginal cost is always zero at the point of efficient scale
a. True b. False Indicate whether the statement is true or false
A monopolist's demand curve:
A) is the same as the market demand curve. B) is perfectly inelastic. C) is perfectly elastic. D) is the same as the marginal revenue curve.