How does a decrease in value of a country's currency relative to other currencies affect its balance of trade?
A) A decrease in value of a country's currency relative to other currencies reduces imports, raises exports, and increases the balance of trade.
B) A decrease in value of a country's currency relative to other currencies raises imports, reduces exports, and increases the balance of trade.
C) A decrease in value of a country's currency relative to other currencies raises imports, reduces exports, and reduces the balance of trade.
D) A decrease in value of a country's currency relative to other currencies reduces imports, raises exports, and reduces the balance of trade.
A
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In the absence of recurring fixed costs, a monopolist will always produce a positive output quantity.
Answer the following statement true (T) or false (F)
An important determinant of the price elasticity of supply is the extent to which
A) the commodity is a luxury or a necessity. B) the demand for it is both price and income elastic. C) the product has many complements or substitutes. D) production requires the use of particularly scarce or specialized resources.
Marge's Beauty Salon sells shampoo and conditioner. Marge has two types of customers. Their willingness-to-pay for shampoo and conditioner are given in the table below
If Marge bundles the shampoo and conditioner, could she increase revenue? Shampoo Conditioner Type I 8 5 Type II 6 8
If the United Mine Workers successfully negotiates a wage that is higher than the competitive wage,
a. an excess demand for labor is created b. a surplus of labor is created c. the demand for labor increases d. the supply of labor decreases e. the quantity of labor demanded increases