When workers are paid on a piece-rate basis, an employer must be able to easily measure each worker's output
Indicate whether the statement is true or false
TRUE
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Under a pure gold standard
A) the dollar is tied to gold and all other currencies are fixed relative to the dollar. B) all foreign exchanges involve gold for goods and services. C) all currencies are defined in terms of gold and these rates are fixed. D) all trade involves government agencies.
If the exchange rate of yen for dollars increases from 100 yen = $1 to 110 yen = $1, then:
a. Japanese-produced goods would become more expensive. b. the dollar has depreciated. c. the yen has appreciated. d. U.S.-produced goods would become more expensive. e. U.S. exports would increase.
Estimations of demand are used as input in this type of scenario:
A. understanding automobile demand to decide whether to offer below-market-rate loans for new cars. B. as input into a firm's decision-making process. C. understanding the demand for oil in order to impose a new oil import tax. D. all of the above
When negative externalities exist, the private market equilibrium represents a
A. market price which is too high and a market quantity which is too high. B. market price which is too high and a market quantity which is too low. C. market price which is too low and a market quantity which is too high. D. market price which is too low and a market quantity which is too low.