Holding other things constant, decreases in the price level in the US will
a. Cause the dollar to appreciate
b. Cause the dollar to depreciate
c. Does not affect the dollar value
d. None of the above
a
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Use the figure below to answer the next question.
The most likely cause of a shift from AB to CD would be a(n)
A. recession. B. increase in the price level. C. increase in productivity. D. decrease in the size of the labor force.
The government can use taxes to
A) change production in a market with an external cost to the efficient amount. B) change production in a market with an external benefit to the efficient amount. C) increase production. D) decrease price.
A bowed Production Possibilities Curve (PPC) indicates
A) inefficient production. B) that the trade-off between the 2 goods is not constant. C) changing technology. D) only 1 good is always being produced.
If marginal utility is negative, total utility is negative
a. True b. False