In foreign exchange markets, a U.S. resident who imports New Zealand apples is:
a. a demander and supplier of New Zealand dollars.
b. a demander and supplier of U.S. dollars.
c. a demander of New Zealand dollars and a supplier of U.S. dollars.
d. a supplier of both New Zealand dollars and U.S. dollars.
e. a supplier of New Zealand dollars and a demander of U.S. dollars.
c
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"The problem with a common resource is that no one gets to use the resource." Comment on the preceding assertion
What will be an ideal response?
Let P be the output price for a particular good. Why is the value P*MPL greater than MRPL for a monopolist?
A) The monopolist is not as technically efficient as firms operating under perfect competition. B) The monopolist hires less labor, so MPL is higher under a monopoly than under perfect competition. C) The monopolist sets a price that is higher than MR. D) A and C are correct. E) B and C are correct.
As the price of a competitive firm's product rises, the firm's demand for labor also rises
a. True b. False Indicate whether the statement is true or false
The demand for money in an economy is high when the: a. real GDP is low
b. personal tax rate is low. c. unemployment rate is high. d. price level is high. e. interest rate is high.