In considering pounds and dollars we can say that when the dollar rate of exchange for the pound rises
A. the pound rate of exchange for the dollar will fall.
B. the pound rate of exchange for the dollar will also rise.
C. the pound rate of exchange for the dollar may either fall or rise.
D. American net exports to Britain will tend to fall.
A. the pound rate of exchange for the dollar will fall.
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Jewelry manufacturers produce a range of products such as rings, necklaces, bracelets, and brooches. What fundamental economic question are they addressing by offering this range of items?
A) What to produce? B) Why produce a variety of items? C) Who to produce the items for? D) How to produce goods that consumers want?
The market supply curve
a. is found by vertically adding the individual supply curves. b. slopes downward. c. represents the sum of the prices that all the sellers are willing to accept for a given quantity of the good. d. represents the sum of the quantities supplied by all the sellers at each price of the good.
In Figure 20.2, if Aggregate Demand does not change, the increase in Real GDP will be accompanied by 
A. lower real wages. B. no change in the price level. C. a lower price level. D. a higher price level.
Marginal benefit is the
A) total benefit we receive from consuming a good or service. B) additional benefit we receive from consuming one more unit of a good or service. C) minimum amount of other goods or services we are willing to give u