________: the number of units of foreign currency that can be exchanged for one unit of domestic currency
Fill in the blank(s) with correct word
Exchange rate
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Marginal revenue for a monopolist
A. decreases as price decreases because each unit of the good is being sold for a lower price. B. increases as output increases because demand is inelastic. C. is constant and equal to price. D. increases as price decreases because more people are willing and able to purchase the good at a lower price.
A monopolist faces a demand curve that is equal to:
a. the demand curve faced by perfectly competitive producers. b. the market demand curve. c. the monopolist's own marginal cost curve. d. the monopolist's own marginal revenue.
An economy has two workers, Paula and Ricardo. Everyday they work, Paula can produce 4 computers or 16 shirts, and Ricardo can produce 6 computers or 12 shirts. ________ has the comparative advantage in computers and ________ has the comparative advantage in shirts.
A. Paula; Ricardo B. Paula; Paula C. Ricardo; Paula D. Ricardo; Ricardo
Which of the following statements accurately describes the economy with a recessionary gap?
a. SRAS intercepts AD1 at RGDPNR.
b. RGDP1 is less than RGDPNR.
c. ESR occurs along LRAS.
d. SRAS intercepts LRAS at ESR.