Refer to the table above. Which statement is correct about the change from year 1 to year 2?
The table shows four different currencies and how much of each currency can be purchased with a U.S. dollar.
A. The U.S. dollar depreciated against the Mexican peso
B. The U.S. dollar appreciated against the British pound
C. The U.S. dollar appreciated against the Japanese yen
D. The U.S. dollar appreciated against the euro
B. The U.S. dollar appreciated against the British pound
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The market value of all domestically produced final goods and services are also equal to the total amount spent by ________ less spending on imported goods and services.
A. households, firms, and governments B. households, firms, and the foreign sector C. households, firms, governments, and the foreign sector D. households and firms
When should parties be allowed to breach a contract?
Ziva is an organic lettuce farmer, but she also spends part of her day as a professional organizing consultant. As a consultant, Ziva helps people organize their houses. Due to the popularity of her home-organization services, Farmer Ziva has more clients requesting her services than she has time to help if she maintains her farming business. Farmer Ziva charges $25 an hour for her
home-organization services. One spring day, Ziva spends 10 hours in her fields planting $130 worth of seeds on her farm. She expects that the seeds she planted will yield $300 worth of lettuce. An economist would calculate Ziva's total cost for the day of farming to equal a. $130. b. $250. c. $300. d. $380.
Constant returns to scale refers to when:
A. an increase in the quantity of output increases average total cost in the long run. B. average total cost does not depend on the quantity of output in the long run. C. an increase in the quantity of output decreases average total cost in the long run. D. None of these is true.