Appreciation is the term used to describe
a. the conversion of one currency into another currency in the free market
b. a reduction in the official value of a currency.
c. the upward movement of currencies in a free market.
d. an increase in the official value of a currency.
c
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When there is a decrease in labor supply, real wages are likely to
A) remain the same. B) decrease. C) increase. D) allow less leisure time.
Holding all other factors constant, income earned from capital is more unequally distributed than income earned from labor
Indicate whether the statement is true or false
In the short run, if aggregate demand shifts to the left while the position of the short-run aggregate supply curve does NOT change, then
A) the level of economic activity rises. B) a recessionary gap occurs. C) there is no change in real GDP and the price level. D) an inflationary gap occurs.
According the graph shown, the profit-maximizing decision of the monopolist would be:
This graph shows the cost and revenue curves faced by a monopoly.
A. Q1, P1.
B. Q1, P3.
C. Q2, P2.
D. Q1, P2.