Unlike a banking crisis, an exchange rate crisis rarely results in a deep recession
Indicate whether the statement is true or false
FALSE
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Answer the next question based on the demand and cost schedules for a monopolistically competitive firm given in the table below.PriceQuantity DemandedTotal CostOutput$201$101182202163293144364125405106426What will be the economic profit or loss for this monopolistically competitive firm at the profit-maximizing level of output?
A. +$20 B. +$10 C. -$15 D. +$28
Which of the following is likely to cause a rise in the wage rate and a decrease in the number of workers hired in a garage?
A) The shutdown of a nearby garage B) A decrease in the price of the services provided by the garage C) An increase in the price of the services provided by the garage D) The opening of a new garage nearby that offers higher wages to its workers
If in the long run, any government policy that increases exports
A) also increases imports. B) decreases imports. C) has no impact on imports. D) makes imports become negative.
At a carnival roulette wheel, a player can either win $10, $30, or $80 . If it costs $35 to play, we would expect to see
a. A long line of players waiting to play b. No players for the game c. The carnival losing money per play d. Both A&C