When there is a shortage of dollars in the foreign exchange market, the
A) U.S. exchange rate will appreciate.
B) supply curve of dollars shifts rightward to restore the equilibrium.
C) demand curve for dollars shifts leftward to restore the equilibrium.
D) U.S. exchange rate will depreciate.
E) supply curve of dollars shifts leftward to restore the equilibrium.
A
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A firm's revenue minus its factor payments equals
a. zero. b. the profits or losses earned by the firm. c. the quasi-rents earned by the factors of production. d. the firm's total revenue.
Explain how our standard of living depends upon our level of real GDP per person, but there might not be a one-to-one relationship between the standard of living and real GDP per person. Give examples of things that can affect one, but not the other
What will be an ideal response?
Which of the following characteristics is a precondition for economic growth?
i. economic freedom ii. free markets iii. active government policy to discourage saving A) ii only B) Both ii and iii C) i only D) iii only E) Both i and ii
The profit-maximizing firm should continue hiring additional labor as long as: a. MRC < MRP
b. MRC > MRP. c. MRC = MRP. d. the MP of labor > 0.