According to purchasing power parity, the relationship among the domestic price (P), the foreign price (P ), and the nominal exchange rate (e), can be written as
A) P = e - P .
B) P = P - e.
C) P = eP .
D) P = e/P .
C
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An increase in a monopoly's fixed costs would cause its output to
a. rise. b. fall. c. stay the same. d. impossible to predict.
In 2016 the Bureau of Labor Statistics reported that there were 57.1 million people over age 25 whose highest level of education was some college or an associate degree. Of these, 36.4 million were employed and 1.5 million were unemployed. What were the labor-force participation rate and the unemployment rate for this group?
a. 66.4% and 2.6% b. 66.4% and 4.0% c. 63.7% and 2.6% d. 63.7% and 4.0%
As the price of a product rises, the quantity supplied decreases.
Answer the following statement true (T) or false (F)
Economic inefficiency exists when
A. MR = MC. B. P > MC. C. P = MR. D. P = MC.