Profits are zero when __________ = ___________ = ___________.
Fill in the blank(s) with the appropriate word(s).
marginal cost; marginal revenue; average total cost
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Purchasing power parity suggests that the exchange rate between two currencies reflects differences in the overall price levels in the two countries
Indicate whether the statement is true or false
A new technology that increases the productivity of teachers has what effect on the labor market for teachers?
a. The wage rate will rise, and quantity of teachers employed will fall. b. The wage rate will rise, and quantity of teachers employed will rise. c. The wage rate will fall, and quantity of teachers employed will fall. d. The wage rate will fall, and quantity of teachers employed will rise. e. There is not enough information to determine what effects there are, if any.
A country, such as Argentina in 2002, that is buying its own currency to maintain a given exchange rate
a. has a balance of payments surplus. b. has an undervalued currency. c. has an overvalued currency. d. need not fear a "run" on its currency.
A macroeconomy
What will be an ideal response?