Referring to Figure 18.2, U.S. goods will become more expensive in Mexico if the exchange rate goes from ________ to ________ pesos to the dollar.
A. 12; 11
B. 12; 13
C. 13; 11
D. 14; 10
Answer: B
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Those who favor changes in the market for health care that would make it more like the markets for other goods and services are generally in favor of universal health care coverage
Indicate whether the statement is true or false
Assume the market for a good produced by perfectly competitive firms is currently in equilibrium (economic profit = 0). Now assume there is a decrease in market demand for the good
Analyze the short-run effects of the decrease in demand on equilibrium market price and output. What has happened to the profits of each of the firms in the industry? Over time, what will happen to the number of firms in the industry? Why?
When the price of a bond is above the equilibrium price, there is an excess ________ bonds and price will ________
A) demand for; rise B) demand for; fall C) supply of; fall D) supply of; rise
Exhibit 10-4 Supply and demand curves for food servers
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If the equilibrium wage rate in Exhibit 10-4 increased, the cause could be that:
A. the wage increased. B. the marginal product of labor decreased. C. either the demand for labor increased or the supply of labor decreased. D. the price of the product produced by the labor decreased.