If the dollar depreciates against the yen, U.S. goods sold in ________ would become less expensive and Japanese goods sold in ________ would become more expensive.
A. the United States; the United States
B. the United States; Japan
C. Japan; Japan
D. Japan; the United States
Answer: D
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The increase in revenue created by hiring one more unit of labor is the
A) marginal product of labor. B) marginal revenue of labor. C) marginal product revenue of labor. D) value of marginal product of labor.
In common value auctions
a. Bidders do not know the value of the object being sold b. Each bidder makes the same estimate of the value of the good c. All bidders know the estimates of the others d. The true value of the item differs across bidders
If a hurricane were to wipe out the majority of the eastern seaboard in the United States:
A. only the long-run aggregate supply curve would shift left. B. the long-run and short-run aggregate supply curves would both shift left. C. only the short-run aggregate supply curve would shift left. D. neither the short-run nor long-run aggregate supply curves would be affected.
Government intervention cannot improve the allocation of resources for goods that do not have prices attached to them
a. True b. False Indicate whether the statement is true or false