With everything else the same, in the foreign exchange market the
A) larger the value of U.S. exports, the greater is the quantity of dollars demanded.
B) lower the exchange rate, the smaller the amount of U.S. exports.
C) the lower the exchange rate, the smaller is the expected profit from buying dollars.
D) the higher the exchange rate, the cheaper are U.S.-produced goods and services.
A
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Opportunity costs arise in production because
a. resources are unlimited b. resources must be shifted away from producing one good in order to produce another c. wants are limited in society d. monetary costs of inputs usually outweigh non-monetary costs e. the monetary costs of only a few resources are zero
A country's human capital increases
a. if its workers become better educated or healthier. b. only if its workers become better educated. c. only if its workers become healthier. d. None of the above is correct.
Why are there actually relatively few markets in which there is perfect competition?
(A) Buyers will not pay more for perfect competition. (B) High prices keep companies in the market longer than necessary. (C) Barriers keep companies from entering the market freely. (D) Lack of demand keeps buyers from the market.
The absolute value of the slope of an indifference curve equals the ratio of the marginal utilities of the two goods involved
Indicate whether the statement is true or false