When the domestic currency depreciates, domestic goods become more expensive to foreign buyers
a. True
b. False
Indicate whether the statement is true or false
False
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Suppose that because of inflation, the absolute price of a gallon of milk increases by 20% and the absolute price of a gallon of gasoline increases by 10%. In this situation, the price of milk relative to the price of gasoline
a. falls. b. rises. c. remains the same. d. changes unpredictably.
If the net benefit of Project A is $10 and that of Project B is $12, which of the following statements is true?
A) An individual can optimize by choosing Project B. B) Switching from Project A to Project B reduces the net benefit by $2. C) An individual can optimize by choosing Project A. D) Switching from Project A to Project B increases the net benefit by $1.2.
Economists believe that cost-plus pricing may be the best way for a firm to determine its optimal product price when the firm's marginal cost and average cost are about the same and when it is difficult to estimate the product's demand curve
Indicate whether the statement is true or false
The value added at all stages of production sums to the market value of the final good, and the value added for all final goods sums to GDP based on the income approach
a. True b. False Indicate whether the statement is true or false