Last year the exchange rate between U.S. dollars and Mexican pesos was 10 pesos per dollar. Today is it 11 pesos per dollar. Here, the dollar ________ against the peso, and the peso ________ against the dollar
A) appreciated; depreciated
B) depreciated; appreciated
C) appreciated; appreciated
D) depreciated; depreciated
A
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The marginal physical productivity of labor is defined as:
a. a firm's total output divided by total labor input. b. the extra output produced by employing one more unit of labor while allowing other inputs to vary. c. the extra output produced by employing one more unit of labor while holding other inputs constant. d. the extra output produced by employing one more unit of capital while holding labor input constant.
When a law is passed that requires businesses to obtain permission from government officials in order to enter a market, this is an example of
a. price-control legislation. b. a barrier to entry c. antitrust legislation. d. the invisible hand principle.
Which statement is true?
A. The economic problem is limited to poverty. B. Scarcity is no longer an economic problem in the United States. C. If we all had more money there would be less scarcity. D. None of these statements are true.
The income distribution has become more unequal in the United States over the last 30 years.
Answer the following statement true (T) or false (F)