The appreciation of the dollar will make U.S. goods ________ to foreigners and make imports ________ for U.S. residents
A) more expensive; cheaper B) cheaper; more expensive
C) more expensive; more expensive D) cheaper; cheaper
A
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Using the data in the above table
A) the variables quantity and price are positively related. B) the variables quantity and price are negatively related. C) the variables quantity and price are neither positively nor negatively related. D) an increase in price is likely to cause an increase in quantity.
In a competitive market, prices adjust until all consumers find themselves
A) maximizing utility. B) on the contract curve. C) happy with their original endowment. D) with many opportunities to gain from additional exchange.
Suppose there are 100 firms each with a short run total cost of STC = q2 + q + 10, so that marginal cost is MC = 2q +1 . If market demand is given by QD = 1050 ? 50P, how much will the individual firm produce?
a. 3 b. 4 c. 5 d. 6
If the (steadily decreasing) marginal benefit of another day spent in the hospital is equal to the (steadily increasing) marginal cost of an additional day spent in the hospital, the
A. net benefit from the hospital stay is maximized. B. net benefit from the hospital stay must be negative. C. net benefit from the hospital stay must be positive. D. net benefit from the hospital stay must be increasing.