If the U.S. dollar was worth 0.8 euros, and the dollar appreciated, it might now be worth:
A. 0.7 euros.
B. 0.9 euros.
C. 0.8 euros.
D. None of these statements is possible.
A. 0.7 euros.
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The payment of unemployment compensation tends to induce business firms to
A) lay off workers as opposed to lowering sales. B) search for new workers for shorter periods of time. C) lay off workers as opposed to increasing inventories and/or reducing hours worked for all employees. D) recall previously laid off workers more rapidly.
In a market with imperfect product competition, the MRP declines because
a. the MP declines with each worker hired. b. the price of output falls as output increases. c. both output price and the MP decline as output increases. d. MC declines as output increases.
If a firm enlarges its factory size and realizes higher average (per unit) costs of production then:
a. it has experienced economies of scale. b. it has experienced diseconomies of scale. c. it has experienced constant returns to scale. d. the long-run average cost curve slopes downward. e. the long-run average cost curve shifts upward.
If the price of a good is below its equilibrium level, then
a. an excess supply will result b. quantity supplied exceeds quantity demanded c. the supply curve will shift to the right d. quantity demanded exceeds quantity supplied e. the demand curve will shift to the left