A monopolistic competitor faces a horizontal demand curve.
Answer the following statement true (T) or false (F)
False
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According to the principle of diminishing marginal utility, as an individual consumes more and more of a good or service, the total utility increases while the marginal utility decreases
Indicate whether the statement is true or false
All of the following are considered to be unemployed EXCEPT
A) job leavers. B) discouraged workers. C) job reentrants. D) new job entrants.
A firm produces construction equipment, some of which it exports. Which of the following effects of an increase in the government budget deficit would likely reduce the quantity of equipment it sells?
a. the change in the interest rate and the change in the exchange rate b. the change in the interest rate but not the change in the exchange rate c. the change in the exchange rate but not the change in the interest rate d. neither the change in the interest rate nor the change in the exchange rate
The price of gold is $300 per ounce in New York and 435 Canadian dollars per ounce in Toronto, Canada. If the law of one price holds for gold, the nominal exchange rate is ________ Canadian dollars per U.S. dollar.
A. 1 B. 1.45 C. 0.690 D. 0.333