Refer to the figure above. If the yuan is allowed to float, at exchange rates above E yuan per dollar:
A) the excess supply of dollars in exchange for yuan increases the value of the dollar in the foreign exchange market.
B) the excess supply of dollars in exchange for yuan lowers the value of the dollar in the foreign exchange market.
C) the excess demand for dollars in exchange for yuan lowers the value of the dollar in the foreign exchange market.
D) the excess demand for dollars in exchange for yuan increases the value of the dollar in the foreign exchange market.
B
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The Fed's mistakes of the early 1930s were compounded by its decision to
A) raise reserve requirements in 1936-1937. B) lower reserve requirements in 1936-1937. C) raise the monetary base in 1936-1937. D) lower the monetary base in 1936-1937.
There is statistical evidence to suggest that under English rule, colonists experienced
(a) financial chaos. (b) economic harm in terms of commerce, trade and investment. (c) growth and prosperity. (d) all of the above.
If capital is measured on the vertical axis and labor is measured on the horizontal axis, the slope of an isoquant can be interpreted as the
A) rate at which the firm can replace capital with labor without changing the output rate. B) average rate at which the firm can replace capital with labor without changing the output rate. C) marginal product of labor. D) marginal product of capital.
Which of the following is a characteristic of the monopolistic competition market structure?
a. Many firms and a homogeneous product. b. Few firms and differentiated products. c. Few firms and similar products. d. Few firms and a homogeneous product. e. Many firms and differentiated products.