If the U.S. dollar appreciates relative to the British pound, then:
A. The pound will appreciate relative to the U.S. dollar
B. The pound will depreciate relative to the U.S. dollar
C. British goods will be more expensive for Americans
D. American goods will be less expensive for the British
B. The pound will depreciate relative to the U.S. dollar
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The impact of accounting scandals of 2001 and 2002 was especially important because
A. it increased investor uncertainty about corporate fundamentals, and the major accounting companies both consult and audit their clients, leading to a conflict of interest. B. the major accounting companies both consult and audit their clients, leading to a conflict of interest. C. the accounting industry had so many employees. D. it increased investor uncertainty about corporate fundamentals.
If the economy is in a recession, in an effort to move the economy to the long-run equilibrium, the government could:
A. decrease spending to increase aggregate demand. B. decrease spending to decrease aggregate demand. C. increase spending to increase aggregate demand. D. increase spending to decrease aggregate demand.
The substitution effect of an inferior good is positive.
a. true b. false
Assume the total product of two workers is 100 and the total product of three workers is 120. The average product of three workers is ________, and the marginal product of the third worker is ________.
A. 20; 100 B. 120; 100 C. 13.33; 6.67 D. 40; 20