If inflation in Russia is higher than it is in the United States,
A) the value of the dollar will rise in the long run.
B) the purchasing power of the ruble in buying Russian goods will rise relative to the dollar.
C) the value of the ruble will rise in the long run.
D) Both A and C are correct.
A
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The perfectly competitive firm's supply curve is that portion of the marginal cost curve that lies above the firm's average total cost curve
Indicate whether the statement is true or false
The marginal physical product (MPP) is calculated by
A) dividing total physical product by labor. B) dividing the change in total physical product by the change in the input. C) dividing the change in total cost by the change in labor. D) the difference between the output of skilled and unskilled workers.
If pizza used to be produced in a competitive price-taker market, and now the pizza market has become a monopoly, we can expect
a. less pizza to be sold at a higher price. b. more pizza to be sold at a higher price. c. less pizza to be sold at a lower price. d. more pizza to be sold at a lower price. e. the same amount of pizza to be sold at the same price.
Which of the following is an automatic stabilizer that reduces tax receipts during a recession?
A. Medicaid. B. Corporate and individual income taxes. C. Indexed retirement and Social Security benefits. D. Welfare benefits.