Which of the following changes in the exchange rate represents an appreciation of the dollar?
a. 100 yen = $1 to 90 yen = $1 b. 1 yen = $.10 to 1 yen = $.08
c. 1 peso = $10 to 1 peso = $11 d. 200 francs = $10 to 190 francs = $10
b
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Consider the market for blackjack dealers in Las Vegas. In each of the following cases, explain what happens to the equilibrium wage rate and the quantity of blackjack dealers hired
a. Three new large resort casinos open in Las Vegas. b. Fewer students are attending classes to learn to become blackjack dealers. c. Traditionally, blackjack dealing is a field that attracts foreign workers. However, changes in immigration laws have made it more difficult for foreign workers to come to Las Vegas to obtain jobs. The demand for blackjack dealers, however, does not change. d. Advances in technology have increased the popularity of electronic blackjack machines and decreased the popularity of live table games which require the use of a dealer.
According to the graph shown, when this economy is open to free trade without restriction, the amount imported is:
This graph demonstrates the domestic demand and supply for a good, as well as a quota and the world price for that good.
A. 900.
B. 1250.
C. 650.
D. 1000.
The lowest marginal tax rate used in the United States is
A. 10 percent. B. 28 percent. C. 33 percent. D. 39.6 percent.
When a country's exports of goods are ________ its imports of goods in a given period, it has a trade surplus.
A. greater than B. unrelated to C. equal to D. less than