When the dollar strengthens,
A) exports will increase and U.S. consumers benefit.
B) imports will increase and U.S. consumers benefit.
C) exports will decrease and U.S. exporters benefit.
D) exports will increase and U.S. exporters gain.
B
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If more firms enter a market that initially had 20 firms in it, then the Herfindahl-Hirschman Index will ________
A) increase B) decrease C) not change D) change in an unpredictable direction
Refer to Figure 3-1. An increase in taste or preference would be represented by a movement from
A) A to B. B) B to A. C) D1 to D2. D) D2 to D1.
Why does the supply curve of the perfectly competitive industry shift to the right whenever a new firm enters the industry?
When a shortage exists in a market, sellers
a. raise price, which increases quantity demanded and decreases quantity supplied until the shortage is eliminated. b. raise price, which decreases quantity demanded and increases quantity supplied until the shortage is eliminated. c. lower price, which increases quantity demanded and decreases quantity supplied until the shortage is eliminated. d. lower price, which decreases quantity demanded and increases quantity supplied until the shortage is eliminated.