Changes in which of the following variables will cause the current nominal exchange rate to change?
A) the future expected long-run nominal exchange rate, Eet+n
B) future expected domestic nominal interest rates
C) future expected foreign nominal interest rates
D) all of the above
D
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Over a typical month, Ying Liao will balance spending time on meals, work, entertainment, study, sleep, and so on by ensuring that there is equality among the marginal
a. factor costs of each market work activity b. products of each market work activity c. revenues from each of the products sold d. wages of each hour worked e. expected net utilities of each activity
Why is the advent of monopoly likely to shift cost curves?
The law of demand indicates that as the cost of an activity:
A. rises, the level of the activity may or may not increase depending on the individual. B. rises, more of the activity will occur. C. falls, less of the activity will occur. D. rises, less of the activity will occur.
In the short run, a firm using variable labor and fixed capital inputs achieves the ________ level of output at the minimum point on its average total cost curve.
A. highest cost B. only possible C. least efficient D. efficient