A depreciation of one's currency means that
a. the country's exports will become more expensive.
b. the country's imports will become more expensive.
c. the country's imports will become less expensive.
d. it now requires less of this currency in exchange for one unit of another currency.
e. it now requires more units of other currencies in exchange for one unit of this currency.
B
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Refer to the scenario above. If Joseph prefers fairness to money, ________
A) he will not accept any offer made by Phillip B) he will always accept any offer made to him C) he will accept the offer if offered an equal share of the money D) Phillip will offer the minimum amount of money to Joseph
A decrease in the marginal physical product of labor shifts the demand for labor curve to the right
a. True b. False Indicate whether the statement is true or false
In a perfectly competitive industry, the firm's marginal revenue curve is
A) downward sloping. B) upward sloping. C) vertical. D) horizontal.
Because a famous airplane like the Spruce Goose is fixed in supply, its price is
A. independently determined. B. inelastic. C. demand determined. D. supply determined.