An appreciation in the value of the dollar will ______.
a. make imports increase because they will become cheaper
b. make imports increase because they will become more expensive
c. make exports increase because they will become more expensive
d. make exports increase because they will become cheaper
a. make imports increase because they will become cheaper
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As a consequence of the problem of scarcity
A. only some people can "have it all." B. there is never enough of anything. C. individuals have to make choices from among alternatives. D. things that are plentiful have relatively high prices.
Answer the following statement(s) true (T) or false (F)
1. Contestable market conditions will cause a natural monopoly to produce the competitive quantity. 2. In a contestable market with room for many firms, industry output will be the same as in a successful cartel. 3. The Cournot oligopoly model is based on the assumption that firms treat their rivals' output as fixed and given. 4. Firms' total output is higher in the Cournot oligopoly model than in the Bertrand oligopoly model. 5. In both competition and monopolistic competition, free entry and exit guarantee that the industry's output is produced at the least possible cost.
Refer to Figure 9-2. The tariff revenue collected by the government equals the area
A) D + E + F. B) B + D + E + F. C) E. D) C + D + E + F.
Structural unemployment is a variation in unemployment caused by:
a. individuals lacking skills valued by the labor market. b. people changing jobs within the economy. c. seasonal changes in the weather such as the temperature getting hotter. d. organizational structural changes.