Buyers are able to buy all they want to buy and sellers are able to sell all they want to sell at
a. prices at and above the equilibrium price.
b. prices at and below the equilibrium price.
c. prices above and below the equilibrium price, but not at the equilibrium price.
d. the equilibrium price but not above or below the equilibrium price.
d
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Everything else equal, a depreciation of the dollar will:
A) cause the GDP of the U.S. to fall. B) cause the inflation rate in the U.S. to decrease. C) cause the GDP of the U.S. to increase. D) cause the net exports of the U.S. to decrease.
Figure 5-17
In Figure 5-17, the consumer would prefer
A. D to C. B. B to D. C. C to B or A. D. D to A but not B.
When the total product curve is drawn in a figure that measures employment along the horizontal axis, it is a graph that shows the
A) minimum cost of producing a given amount of output using different techniques. B) maximum profit attainable for each unit of output sold per unit of labor employed. C) maximum output attainable for each quantity of labor employed. D) minimum output attainable for each quantity of labor employed.
How is an exchange rate depreciation likely to affect imports and exports in the short run and over a longer period of time?
What will be an ideal response?