Everything else held constant, increased demand for a country's exports causes its currency to ________ in the long run, while increased demand for imports causes its currency to ________
A) appreciate; appreciate
B) appreciate; depreciate
C) depreciate; appreciate
D) depreciate; depreciate
B
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When a player randomly chooses the strategy to play, with each strategy given a fixed probability of being chosen, we say that the player is using
a. a mixed strategy. b. a pure strategy. c. a dominant strategy. d. a Stackelberg strategy.
To the extent that consumers base spending decisions on their permanent income, attempts to fine-tune fiscal policy with temporary tax changes are more effective
Indicate whether the statement is true or false
Suppose there are three power-generating plants, each of which has access to 5 different production processes. The table below summarizes the cost of each production process and the corresponding number of tons of smoke emitted each.ProcessABCDE(smoke/day)(4 tons/day)(3 tons/day)(2 tons/day)(1 tons/day)(0 tons/day)Cost to Firm X ($/day)$500$514$530$555$585Cost to Firm Y ($/day)$400$420$445$480$520Cost to Firm Z ($/day)$300$325$360$400$550 If pollution is unregulated, then total daily smoke emission will be ________ tons.
A. 8 B. 9 C. 4 D. 12
For a given level of inflation, if a rise in the stock market makes consumers more willing to spend, known as the wealth effect, then the ________ shifts ________.
A. short-run aggregate supply line; upward B. aggregate demand curve; right C. short-run aggregate supply line; downward D. aggregate demand curve; left