The demand curve for Japanese yen is downward sloping because when the exchange rate (measured in dollars per yen) falls,
a. Japanese goods become relatively cheaper so foreigners buy more of them and need more yen to do so.
b. foreigners need more dollars to buy one yen so they can now afford more Japanese goods.
c. the yen demand curve shifts to the right as foreigners try to buy more Japanese goods.
d. the dollar becomes weaker and this reduces the strength of both economies.
e. everyone wants fewer yen because they have lost some of their underlying value.
a
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If Gorgeous Sands Resort has a constant marginal cost of $20,000 for each resort unit and a constant marginal cost of $500 for operating each resort unit, what is Gorgeous Sands Resort's long-run marginal cost per resort unit?
A) $19,500 B) $20,500 C) $500 D) $20,000
The first economist to point out the importance of specialization of labor was
a. Leonardo da Vinci. b. Adam Smith. c. David Ricardo. d. John Maynard Keynes. e. Enrico Caruso.
If the wage rate? doesn't change but a? profit-maximizing competitive firm hires fewer? workers, we know that
A) the price of the product increased.
B) technical change occurred that increased labor productivity, reducing the firm's demand for labor.
C) demand for the product fell or there has been a reduction in labor productivity.
D) marginal factor cost increased.
The term marginal utility denotes the amount by which ________ changes when consumption changes by ________ unit(s).
A. demand; 10 B. total utility; 10 C. total utility; 1 D. demand; 1