The phrase "a stronger U.S. dollar" means that the dollar
a. is in equilibrium on the foreign exchange market
b. does not fluctuate greatly
c. has been depreciating
d. has been appreciating
e. buys more than one unit of a foreign currency
D
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Assume that the adoption of a new technology costing $8 per year lowers the marginal cost of producing Good X from $7 to $3 . The firm will adopt the new technology if it expects annual profit to increase from $14 to $18
Indicate whether the statement is true or false
When there is a recessionary gap, capital and labor resources are:
A. not being fully utilized. B. misallocated. C. decreasing in number. D. producing beyond their capacity.
As output increases, average total cost always falls because average fixed cost declines.
Answer the following statement true (T) or false (F)
Examination of data since 1953 indicates that during this period stretching more than half a century, the Phillips curve
A. slopes smoothly upward at first but then slopes smoothly downward. B. is smoothly upward sloping. C. is smoothly downward sloping. D. fails to exist.