If the dollar price of the English pound goes from $1.50 to $1.75, the dollar has
What will be an ideal response?
depreciated, and Americans will find English goods more expensive.
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Similarly to the Latin American region, the HPAE experienced a Lost Decade in the 1980s
Indicate whether the statement is true or false
If the intended aim of the price floor set in the graph shown was a net increase in the well-being of producers, then positive analysis would have us consider:
A. whether the surplus transferred from producers to consumers is larger than the consumer surplus lost to deadweight loss.
B. whether the surplus transferred from consumers to producers is larger than the consumer surplus lost to deadweight loss.
C. whether the producer surplus lost to deadweight loss is greater than the producer surplus gained from a higher price.
D. whether the producer surplus lost due to lower prices is greater than the producer surplus lost due to fewer transactions taking place.
Which of the following would cause a rightward shift in the aggregate supply curve?
a. Larger-than-expected wage increases. b. Lower oil prices. c. Increased investment spending. d. Greater government regulation.
An automobile manufacturer uses land, labor, capital, and entrepreneurial ability to produce cars and trucks. If the price of trucks increases, the automobile manufacturer would not _____
a. pay a lower wage rate to labor b. increase truck production c. hire more workers d. increase capital used in production e. increase land used in production