If the exchange rate value of the dollar depreciates relative to other currencies, we would expect
a. U.S. exports to decrease.
b. U.S. exports to increase.
c. U.S. imports to increase.
d. aggregate demand in the United States to decrease.
B
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Real GDP per person in the Canada was $7,377 in 1950. Over the next 48 years it grew at a compound annual rate of 2.0%. If instead real GDP per person had grown at an average compound annual rate 2.5%, then real GDP per capita in the Canada in 1998 would have been approximately ________ larger.
A. $24,130 B. $1,770 C. $9,370 D. $5,049
Which of the following is true under monopoly?
A. P = MR B. P > ATC C. P > MC D. P = ATC
The notion that the value of money is determined by the overall quantity of money in existence is known as the:
A. money quantity theory. B. quantity theory of money. C. price level theory. D. level theory of prices.
If an asymmetry of information is removed and laborers' preferences change against employment, this will shift the equilibrium in the labor market to the
A. northwest. B. northeast. C. southwest. D. southeast.