In the open-economy macroeconomic model, equilibrium in the market for foreign-currency exchange is determined by the equality between the supply of dollars which comes from
a. U.S. national saving and the demand for dollars for U.S. net exports.
b. U.S. net capital outflow and the demand for dollars for U.S. net exports.
c. domestic investment and the demand for U.S. net exports.
d. foreign demand for U.S. goods and services and U.S. demand for foreign goods and services.
b
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Travel services include purchases of items by residents of one country when they travel to another country
Indicate whether the statement is true or false
Refer to Figure 14.3. To maximize total wages paid to workers, the labor union will agree to wage rate:
A) W0. B) W1. C) W2. D) W3. E) none of the above
____ mean that the costs involved cannot be recouped for a considerable period of time.
A. Sunk costs B. Opportunity costs C. Overheads D. Restructuring costs
The top four firms in the industry have 10 percent, 8 percent, 8 percent, and 6 percent of the market. The four-firm concentration ratio of this market is:
A. 32. B. 8. C. 66. D. 264.