An decrease in the price of oranges would lead to a(n)
a. increased supply of oranges.
b. increase in the prices of inputs used in orange production.
c. a movement down and to the left along the supply curve for oranges.
d. a movement up and to the right along the supply curve for oranges.
c
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An increase in the real exchange rate will tend to ________ exports and to ________ imports.
A. increase; decrease B. decrease; increase C. decrease; decrease D. increase; increase
A market in which there is only one seller, and there is no close substitute for the product being sold, is called
A) perfect competition. B) monopolistic competition. C) monopoly. D) oligopoly.
Real interest rates were negative during most of the
A) 1960s. B) 1970s. C) 1980s. D) 1990s.
In a perfectly competitive labor market, if any one firm decreases the amount of labor it employs, the most likely result will be that the
a. market wage rate will rise b. firm's revenue and cost will fall c. market wage will fall d. firm's revenue and cost will rise e. firm's revenue will fall, but its cost will remain unchanged