When the U.S. dollar appreciates relative to the British pound, ceteris paribus, then ______.
a. U.S. consumers need a greater number of dollars to buy a given number of British pounds
b. British consumers find that U.S. goods are less expensive in terms of their own currency
c. the British pound appreciates relative to the U.S. dollar
d. the relative price of British goods decreases for U.S. consumers
b. British consumers find that U.S. goods are less expensive in terms of their own currency
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Since the year 2000, the share of the population holding or actively looking for jobs have ________ in the United States:
A. been record high. B. decreased. C. increased. D. remained approximately constant.
Which of the following is NOT a regional trade agreement?
a. the Trans-Pacific Partnership b. the Trans-Atlantic Trade and Investment Partnership c. the North American Free Trade Area d. the Europe-Japan Free Trade Area
Which of the following will hold true if the market for cameras is in equilibrium at a price of $40?
A) The quantity of cameras produced will equal the quantity of cameras bought in the market. B) Sellers of cameras will have an incentive to charge a price higher than $40. C) Buyers of cameras will want to buy fewer cameras than they are purchasing at equilibrium. D) If the cost of producing cameras falls below $40 per camera, all sellers will stop supplying cameras.
Both Kate and John own saltwater taffy factories. Kate's factory has low fixed costs and high variable costs. John's factory has high fixed costs and low variable costs. Currently, each factory is producing 1,000 boxes of taffy at the same total cost. Complete the following statement with the correct answer. If each produces
A. less, their costs will be equal. B. more, the costs of Kate's factory will exceed those of John's factory. C. less, the costs of Kate's factory will exceed those of John's factory. D. more, their costs will be equal.