If the exchange rate changes from 75 cents per euro to $1 per euro, the euro
a. appreciated, since its value has increased
b. appreciated, since the price of U.S. dollars has increased
c. appreciated, making U.S. goods more expensive in Euros
d. depreciated, since its value has declined
e. depreciated, since its value has increased
A
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A key aspect of East Asian development policies was
a. lack of government intervention in company affairs b. government ownership of most companies c. government planning d. government incentives for particular companies e. none of the above
A firm's marginal factor cost describes
A) the increase in the firm's total revenue as one more unit of output is sold. B) the change in total fixed cost that results from hiring one more unit of input. C) the change in total variable cost that results from the production of an extra unit of output. D) the change in total cost that results from using one more unit of an input.
When reality show participants travel through foreign countries, they are generating a
A. Supply of U.S. dollars and a demand for a foreign currency. B. Supply of U.S. dollars and a supply of a foreign currency. C. Demand for U.S. dollars and a supply of a foreign currency. D. Demand for U.S. dollars and a demand for a foreign currency.
If the demand for product X is inelastic, a 4 percent increase in the price of X will:
A. decrease the quantity of X demanded by more than 4 percent. B. decrease the quantity of X demanded by less than 4 percent. C. increase the quantity of X demanded by more than 4 percent. D. increase the quantity of X demanded by less than 4 percent.