A currency has depreciated in value if it takes more of a foreign currency to buy it.
Answer the following statement true (T) or false (F)
False
See the definition of depreciation in the text.
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Answer the following statement(s) true (T) or false (F)
1. When both players have dominant strategies, there is only one Nash equilibrium. 2. The Battle of the Sexes game has two Nash equilibria, neither of which is Pareto optimal. 3. All outcomes in the Copycat Game are Nash equilibria. 4. A solution concept is any way of analyzing a game which leads to the discovery of a Nash equilibrium which solves the game. 5. The concept of Nash Equilibrium is an important solution concept because it helps make predictions.
If Mary wants to use advertising to reduce the elasticity of demand for her dry cleaning services, she should make sure the advertising: a. clearly states the prices she charges
b. shows that she is producing a product like the other dry cleaners in town. c. shows why her services are truly different from the other dry cleaners in town. d. does none of the above.
The real balance effect works through a change in the value of
A) monetary assets in response to changes in the unemployment rate. B) nonmonetary assets in response to changes in the unemployment rate. C) monetary assets in response to changes in the price level. D) nonmonetary assets in response to changes in the price level.
Better short-run use of current capacity
A. Shifts the aggregate supply curve outward, while long-run economic growth moves the economy up the aggregate supply curve. B. Increases capacity, while long-run economic growth increases capacity utilization. C. Moves the economy closer to the production possibilities curve, while long-run growth shifts that curve outward. D. And long-run growth both shift the aggregate supply curve outward.