A depreciation of the dollar causes
A. an increase in U.S. imports.
B. an increase in the prices of U.S. exports.
C. a decrease in U.S. exports.
D. an increase in the prices of U.S. imports.
Answer: D
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Suppose that marginal revenue for a perfectly competitive firm is $20 . When the firm produces 10 units, its marginal cost is $20, its average total cost is $22, and its average variable cost is $17
Then to maximize its profit in the short run, the firm A) should stay open and incur an economic loss of $20. B) must increase its output to increase its profit. C) must decrease its output to increase its profit. D) should shut down. E) should not change its production because it is already maximizing its profit and is making an economic profit.
If the tax rate increases with an increase in income, the income tax structure is said to be _____
a. proportional b. regressive c. progressive d. lump-sum e. negatively skewed
Suppose Bev's Bags makes two kinds of handbags-large and small. Bev rents an industrial space where she keeps the fabric, the industrial sewing machine, her measuring board and cutting shears, extra needles, thread and buttons, and labels. Which of the following would be considered a variable cost of this company?
A. The cutting shears B. The fabric C. The rent D. None of these would be considered a variable cost.
The labor supply curve:
A. has a negative slope. B. shows the relationship between the total quantity of labor supplied by all firms in the economy and the wage rate. C. shows that, all things being equal, more workers will want to work when wages are higher and less will want to work when wages are lower. D. All of these are true.