Depreciation of the dollar relative to foreign currencies will tend to increase net exports and aggregate demand.
Answer the following statement true (T) or false (F)
True
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Elsie is a perfectly competitive dairy farmer. The market price of milk was $2.40 but just fell to $2.20 a gallon. Elsie
A) can sell as much milk as she wants at $2.20 a gallon. B) will have to charge some customers $2.40 a gallon to stay in business. C) will produce the same amount of milk at both prices. D) can sell more at the lower price because the quantity demanded is higher at lower prices. E) will be able to charge her initial customers $2.40 a gallon.
If the working age population is 200 million, 150 million are employed, and 6 million are unemployed, the unemployment rate is
A) 3.0 percent. B) 25.0 percent. C) 4.0 percent. D) 12.0 percent. E) 3.8 percent.
When used with a natural monopoly, an average cost pricing rule results in
A) the efficient level of output. B) economic losses for the firm. C) the need for government to subsidize the natural monopoly. D) zero economic profit for the firm. E) the firm making an economic profit.
The Solo Coal Mine is the only employer in the small town of Way out there. The market supply of coal miners is Qs = 0.02W - 200, where W is the annual wage of a coal miner and Q is the number of people who would accept employment as a coal miner. What is the coal mine's marginal expenditure when it hires 100 coal miners?
A. $15,000 B. $20,000 C. $10,000 D. $1,000,000