A depreciation in the U.S. dollar on the foreign exchange market will
a. make U.S. exports more expensive to foreigners.
b. make imports less expensive for U.S. consumers.
c. make U.S. exports cheaper for foreign consumers.
d. encourage U.S. consumers to travel abroad.
C
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The market structure that is most different from the model of perfect competition is:
A) monopolistic competition. B) monopsony C) oligopoly. D) monopoly.
Mrs. Smith is given a government subsidy for an apartment in a public housing project. The apartment
A) is not subject to the principle of rival consumption. B) is not a public good. C) has widespread benefits and concentrated costs. D) is subject to the free-rider problem.
Given the total cost function TC = 2,000 + 2Q, when output is 1,000 units average total cost is ________ and total fixed cost is ________.
A. $2; $2 B. $4; $2 C. $4,000; $2,000 D. $4; $2,000
Total costs divided by output equals ______.
Fill in the blank(s) with the appropriate word(s).