When the price level in France increases while the exchange rate and the price level in the United States remain the same, the result is
A) U.S.-made goods become relatively cheaper compared to French-made goods.
B) French citizens are more likely to buy U.S.-made goods.
C) U.S. citizens are less likely to buy French-made goods.
D) All of the above answers are correct.
D
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The marginal revenue product of a resource is:
a. the marginal product of the resource multiplied by the price of the product it helps to produce. b. the price of the product times the price of the resource. c. larger when the product price is smaller. d. larger when the marginal product is smaller.
Corporate management can defend itself against the threat of a hostile takeover in all of the following ways except
a. use of shark repellent activities b. buying its own corporate stock c. acquiring considerably more debt d. finding a white knight e. keeping a large cash reserve for an emergency
Disposable personal income is equal to
A. Gross Domestic Product (GDP) minus depreciation. B. personal income plus transfer payments. C. national income minus personal income taxes. D. personal income minus personal income tax payments.
Answer the following questions true (T) or false (F)
1. A perfectly competitive firm's marginal revenue curve is downward sloping. 2. Assume that price is greater than average variable cost. If a perfectly competitive firm is producing at an output where price is $114 and the marginal cost is $102, then the firm is probably producing more than its profit-maximizing quantity. 3. Being a price taker, a perfectly competitive firm cannot receive a producer surplus in the short run.