If the exchange rate falls from 120 yen per dollar to 110 yen per dollar, the dollar has depreciated
Indicate whether the statement is true or false
TRUE
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If the demand and supply curves are described by the following equations P = a - bQ and P = c + dQ, respectively, the equilibrium price is P* = (ad + bc) / (b + d)
Indicate whether the statement is true or false
An exchange rate is
A) the price of one currency in terms of another. B) the monetary value of goods and services exchanged for imports. C) the amount of gold a currency will buy. D) All of the above.
When a firm experiences declining long-run average total costs as it produces more output, there are
A) increasing marginal returns to variable inputs. B) economies of scale. C) diseconomies of scale. D) constant returns to scale.
All of the following are designed to reduce health care expenses for consumers except:
A. HMOs. B. PPOs. C. the DRG payment system. D. the fee-for-service system.