If the dollar appreciates,
a. imports to the United States become more expensive for foreigners.
b. exports from the United States become more expensive for foreigners.
c. imports become more expensive for U.S. citizens.
d. exports from the United States become cheaper.
e. the dollar will exchange for fewer units of a foreign currency.
B
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A signal is
a. anything used to show employees in a market that demand in a profession has increased b. anything used to show employees in a market that supply in a profession has increased c. a proxy used to indicate possession of unobservable qualities required for a particular job d. a way for employers to discriminate against certain groups of people e. a way for employees to learn to stay out of certain professions
The 45-degree income line is the same as the aggregate expenditure curve
Indicate whether the statement is true or false
Suppose Marv, the owner-manager of Marv's Hot Dogs, earned $82,000 in revenue last year. Marv's explicit costs of operation totaled $36,000. Marv has a Bachelor of Science degree in mechanical engineering and could be earning $40,000 annually as mechanical engineer.
A. Marv's economic profit is $36,000. B. Marv's economic profit is $6,000. C. Marv's implicit cost of using owner-supplied resources is $36,000. D. Marv's implicit cost of using owner-supplied resources is $30,000.
No government intervention in active markets for foreign currency is typical of a
A. gold standard. B. floating exchange rate system. C. fixed exchange rate system. D. managed float exchange rate system.