When the foreign exchange value of the Mexican peso is above its equilibrium rate, the peso will:
a. tend to be revalued.
b. tend to increase in value over other currencies.
c. be high demand in the foreign exchange market.
d. tend to depreciate.
e. tend to appreciate.
d
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A rent ceiling creates a shortage. As a result, there is
A) an efficient allocation of housing. B) a surplus of housing. C) an increase in the producer surplus in the housing market. D) a decrease in the producer surplus in the housing market.
The implicit cost of ownership:
A. is a cognitive bias if it goes ignored. B. leads people to value things more once they possess them. C. is a nonmonetary opportunity cost that is often overlooked. D. All of these are true.
Deregulation is the process of _________ government control over industries.
A. reducing B. eliminating C. marginalizing D. increasing
The government intervenes in the economy to protect labor by
A. Ensuring minimum wages in addition to overtime provisions. B. Enforcing child labor laws to prevent child exploitation. C. Ensuring workplace safety conditions. D. All of the choices are correct.