Foreign exchange rates are
A. price at which purchases and sales of foreign goods take place.
B. movement of goods and services from one country to another.
C. the price of one currency in terms of a second currency.
D. differences between exports and imports.
C. the price of one currency in terms of a second currency.
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There seems to be some basis for concluding that genetic differences in intelligence exist between blacks and whites
Indicate whether the statement is true or false
In a perfectly competitive, decreasing-cost industry, the long-run market supply curve slopes downward
a. True b. False
Which of the following statements is correct?
A. If demand decreases and supply increases, equilibrium price will rise. B. If demand increases and supply decreases, equilibrium price will fall. C. If supply increases and demand decreases, equilibrium price will fall. D. If supply decreases and demand remains constant, equilibrium price will fall.
Answer the following questions true (T) or false (F)
1. The payment received by suppliers of entrepreneurial skills is called wages. 2. In the circular flow model, households demand resources such as labor services in the factor market. 3. In economics, the term "free market" refers to a market where products are traded but not sold.