Refer to Figure 29-1. The depreciation of the dollar is represented as a movement from
A) B to C. B) B to A. C) D to C. D) A to C. E) A to B.
B
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Discuss the differences between Absolute PPP and Relative PPP
What will be an ideal response?
Once the demand curve for a product or service is drawn, it
a. remains stable over time. b. can shift either rightward or leftward. c. is possible to move along the curve, but the curve will not shift. d. tends to become steeper over time.
If the credits for a principles of economics section is three units and an instructor teaches two sections with 100 students in each and tuition and fees at your university are $40 per unit. If the instructor is paid $ 30,000 to teach both classes, should the university hire the instructor?
A. Yes, the MRP of the instructor is higher than the wage. B. Yes, the wage is higher than the instructor's MRP. C. No, the MRP of the instructor is higher than the wage. D. No, the wage is higher than the instructor's MRP.
Refer to the above table. If the price is $3, the perfectly competitive firm should produce
A. 104 units. B. 105 units. C. 103 units. D. 102 units.