Suppose the official gold value of the Brazilian real changes from 527 reals per ounce to 508 reals per ounce. We can then say that:
a. the Brazilian real has depreciated in value as a consequence of free market fluctuations.
b. the Brazilian real has appreciated in value.
c. gold is now more expensive to purchase in Brazil than it was before.
d. the Brazilian real has been devalued.
e. the Brazilian economy is expected to experience rapid inflation.
b
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Answer the following statement(s) true (T) or false (F)
1. If the Open Range Field is currently a common property and the government decides to charge an entrance fee, this would result in an optimal level of activity in the Open Range Field. 2. Crowding at a common property site both reduces the benefits of visitors and increases the costs of being a visitor. 3. When people have identical tastes, nobody has any incentive to maintain or improve a property that is commonly owned. 4. When people have identical tastes, the rents created by a common property are totally dissipated. 5. When people have identical tastes, social gain can be created from a common property by imposing a Pigovian tax on entrants.
Necessities, such as food and shelter, are product purchases that consumers are sensitive to, so the demand is elastic for these goods.
Answer the following statement true (T) or false (F)
The marginal product of labor curve is the demand curve for labor
Indicate whether the statement is true or false
The major components of a bond include all of the following except its
A. maturity date. B. face value. C. price. D. coupon rate.