A reduction in the price of the dollar in terms of the euro, Germany's currency, will have the result of
A. increasing the supply of products purchased from Germany.
B. increasing the demand for U.S. products exported to Germany.
C. decreasing the price of products purchased from Germany.
D. decreasing the price of hotel rooms in Germany to U.S. tourists.
B. increasing the demand for U.S. products exported to Germany.
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A constant-cost industry is one in which
A. the long-run supply curve is upward sloping. B. the long-run supply curve is perfectly inelastic. C. the long-run supply curve is downward sloping. D. the long-run supply curve is perfectly elastic.
As the capital stock increases, ________. This means that the marginal product of capital (MPK) ________
A) the slope of the production function falls; declines B) the slope of the production function increases; goes up C) the slope of the production function falls; goes up D) the slope of the production function increases; declines E) none of the above
Absolute advantage is found by comparing different producers'
a. opportunity costs. b. payments to land, labor, and capital. c. input requirements per unit of output. d. locational and logistical circumstances.
The difference between a firms' profit-maximizing quantity and the quantity that minimizes average cost is called excess capacity
Indicate whether the statement is true or false