If the price of the dollar changes from 100 Japanese yen to 120 Japanese yen, the dollar has appreciated
Answer the following statement true (T) or false (F)
True
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The period of time in which the level of output moves from a trough to a peak is called a
A) contraction or recession. B) recovery or expansion. C) plateau. D) depression.
The perfectly competitive market structure benefits consumers because
A) firms add a much smaller markup over average cost than firms in any other type of market structure. B) firms produce high-quality goods at low prices. C) firms do not produce goods at the lowest possible price in the long run. D) firms are forced by competitive pressure to be as efficient as possible.
The longer the time period considered, the greater the mobility within an income distribution
a. True b. False Indicate whether the statement is true or false
The U.S. economy is relatively open in terms of economic activity related to international trade
a. True b. False Indicate whether the statement is true or false