According to the "beachhead effect," in order to undo the effects of a strong-dollar period, the real value of the dollar
A) must fall to at least half of its value before appreciation of the dollar began.
B) must fall to the value it had before appreciation of the dollar began.
C) must fall to a much lower level than it had before appreciation of the dollar began.
D) must actually appreciate before it depreciates to undo the effects of a strong-dollar period.
C
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A point inside the production possibilities frontier is ________ while a point outside the frontier is ________.
A. below the maximum possible; the maximum possible B. unattainable; attainable C. attainable; unattainable D. the maximum possible; below the maximum possible
(Appendix) If you have an offer of $10/hour and the relevant range of offers is $5/hour to $15/hour with the offers proportionately distributed across the range, what is your expected gain from engaging in a search for another offer?
A. Zero B. $5.00 C. $2.50 D. $1.25
If the MRPL is greater than the wage rate, and the supply of labor is horizontal, the firm will
A. not change its employment or wage practices. B. hire more labor. C. increase the wage paid. D. hire less labor.
The Food, Conservation, and Energy Act of 2008 does not address the fundamental problem of agricultural subsidies, which is that those subsidies:
A. reduce work incentive for farmers, thus reducing agricultural production. B. slow the exodus of resources from agriculture, increase production of agricultural products, and reduce crop prices and market incomes. C. increase the exodus of resources from agriculture and reduce investments by farmers in land and equipment. D. are based on past agricultural production and not on current agricultural production.