In the short run, who tends to benefit from a decrease in the exchange rate?
A) domestic producers
B) owners of domestic-currency assets
C) domestic consumers
D) foreign producers
A
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Managers should engage in an activity if, on average, it can be done for less that a dollar per unit
Indicate whether the statement is true or false
Millionaires tend to be older than the general population because
a. the earnings of most people peak during the retirement phase of life. b. older workers generally have more education than younger workers. c. many achieve millionaire status by saving from a relatively modest income, and this will take a lengthy period of time. d. older people have less to do, and therefore, they have more time to come up with innovative ideas
The difference between absolute advantage and comparative advantage is called gains from trade
Indicate whether the statement is true or false
One of the principal defects of using a commodity as money is that its worth as a:
A. commodity may exceed its worth as money, causing it to cease functioning as a medium of exchange. B. medium of exchange may exceed its worth as a store of value, causing it to cease being useful as money. C. medium of exchange may exceed its worth as a standard of account, causing it to cease being useful as money. D. unit of account may exceed its worth as a store of value, causing it to cease being useful as money.