Other fundamental things equal, an increase in the exchange-rate value of the domestic currency will make domestic goods
A. more expensive in the domestic market.
B. less competitive in the international markets.
C. more expensive to produce.
D. more in demand internationally.
Answer: B
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Starting from short-run equilibrium, wage rates rise. What is the effect on the price level and Real GDP in the short run?
A) The price level rises and Real GDP falls. B) The price level falls and Real GDP rises. C) The price level rises and Real GDP rises. D) The price level falls Real GDP falls.
A monopoly
a. can set the price it charges for its output and earn unlimited profits. b. takes the market price as given and earns small but positive profits. c. can set the price it charges for its output but faces a downward-sloping demand curve so it cannot earn unlimited profits. d. can set the price it charges for its output but faces a horizontal demand curve so it can earn unlimited profits.
A market is said to be in equilibrium when
A. The buying intentions of all consumers are realized. B. The supply intentions of all sellers are realized. C. The quantity demanded equals the quantity supplied. D. Demand is fully satisfied at all alternative prices.
Refer to the above information. Which individual is structurally unemployed?
The following items describe the responses of four individuals to a Bureau of Labor Statistics (BLS) survey of employment. 1. Mollie just graduated from college and is now looking for work. She has had three job interviews in the past month, but still has not gotten a job offer. 2. George used to work in an automotive assembly plant. He was laid off six months ago as the economy weakened. He expects to return to work in a few months when national economic conditions improve. 3. Jeanette worked as an aircraft design engineer for a company that produces military aircraft until she lost her job last year when the Federal government cut defense spending. She has been looking for similar work for a year but no company seems interested in her aircraft design skills. 4. Ricardo lost his job last year when his company downsized and laid off middle-level managers. He tried to find another job for a year, but was unsuccessful and quit looking for work. A. Mollie B. George C. Jeanette D. Ricardo