If the dollar price of the euro goes from $1 to 90 cents, the euro has
a. appreciated, and Europeans will find U.S. goods cheaper.
b. appreciated, and Europeans will find U.S. goods more expensive.
c. depreciated, and Europeans will find U.S. goods cheaper.
d. depreciated, and Europeans will find U.S. goods more expensive.
D
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In a long-run equilibrium in a monopolistically competitive industry that produces information products, revenues are equal to the ________ costs of developing, producing, and selling the product
A) total B) fixed C) variable D) marginal
An economist in an economy struggling with a low level of national saving suggested that the best way to increase the national saving of the country is by increasing net taxes. Which of the following statements points out a drawback in his argument?
a. While an increase in net taxes will indeed increase public saving, it will also lead to a corresponding decrease in household saving, meaning the net effect on national saving will be zero. b. An increase in net taxes means the government will have more money on hand. By keeping the government spending constant, the country will now have extra funds that it can put into savings. c. An increase in net taxes means that consumers will have less money in their pockets and thus less money to put into savings. As a result, national saving will decrease. d. An increase in net taxes means the government will have more money on hand. As a result, there is very little chance that there will be any extra funds for national saving.
This table shows the total costs for various levels of output for a firm operating in a perfectly competitive market.PriceQuantityTC$500$10.00$501$20.00$502$27.50$503$77.50$504$147.50$505$250.00According to the table shown, what is the firm's marginal revenue from the 3rd unit produced?
A. $50 B. $150 C. $90 D. $60
We translate nominal income in any past year into constant, real dollars to:
A. understand what a salary in the past would equal in current dollars to determine how much more we have actually gained in purchasing power. B. see what an income we were earning in the past would be equivalent to today. C. allow us to compare changes in purchasing power over time. D. All of these statements are true.