A depreciation of the U.S. dollar on the foreign exchange market will
a. make U.S. exports cheaper to foreigners.
b. make imports less expensive for U.S. consumers.
c. make U.S. exports more expensive for foreign consumers.
d. probably cause the United States to run a capital account surplus in the long run.
A
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In the United States, calculation of gross domestic product is conducted by the ________
A) Council of Economic Advisors B) Bureau of Economic Analysis C) Census bureau D) Chief Financial Officer's Council
A firm in a perfectly competitive industry is maximizing its economic profit by producing 500 units of output. At 500 units of output, which one of the following must be false?
a. MC < ATC b. MC < AVC c. MC > ATC d. MR < ATC e. MR > AVC
A monopolist will always charge the highest price it can get.
Answer the following statement true (T) or false (F)
For the economy to be in equilibrium, government purchases plus ________ must equal saving plus ________.
A. tax revenue; investment B. consumption; investment C. tax revenue; consumption D. investment; tax revenue