If the exchange rate of the English pound goes from $1.50 to $2.00, the pound has
a. appreciated, and the English will find U.S. goods cheaper.
b. appreciated, and the English will find U.S. goods more expensive.
c. depreciated, and the English will find U.S. goods cheaper.
d. depreciated, and the English will find U.S. goods more expensive.
A
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Which of the following would increase the natural rate of unemployment?
A) an increase in the number of younger, less skilled workers in the economy B) a reduction in the generosity of unemployment insurance programs C) an increase in government-sponsored programs that train unemployed workers so they can find new jobs quickly D) restrictions on the ability of unions to negotiate wage changes with companies
If quality-detection costs are very low,
a. lower quality products will tend to be outcompeted in the market, and the average quality will rise. b. lower quality products will tend to be outcompeted in the market, but the average quality will fall. c. higher quality products will tend to be outcompeted in the market, and the average quality will rise. d. higher quality products will tend to be outcompeted in the market, and the average quality will fall.
The case for product differentiation includes the assertion that
A. new products satisfy people with different preferences. B. even products that do not satisfy a real demand survive. C. standards of living rarely improve with product innovation. D. it wastes society's scarce resources.
A proof by contradiction can only be used to disprove a statement but not to prove a statement to be correct.
Answer the following statement true (T) or false (F)