When a country's nominal exchange rate appreciates, the price of
A) that country's goods abroad increases.
B) that country's goods abroad decreases.
C) foreign goods sold in the country increases.
D) that country's goods produced and sold at home increases.
A
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In public education, the value of the services provided is
A) greater than the value that parents and students place on the services. B) equal to the value that parents and students place on the services. C) less than the value that parents and students place on the services. D) zero since they are a public good.
More and more devices are being introduced into the market that perform tasks similar to that of PCs, such as tablets and smartphones. At the same time, the price of computer chips to make high-end PCs continues to fall. What is the effect of the events on equilibrium price and quantity of high-end PCs?
A. Price falls continuously as does quantity sold. B. Price falls continuously while quantity falls initially but then rises, recouping earlier losses. C. Price rises then falls while quantity sold falls continuously. D. Price falls continuously and quantity rises continuously.
Suppose that when the level of output for the firm increases from 50 to 60 units, its variable costs increase from $500 to $700. What is the firm's marginal cost?
A) $5 B) $10 C) $20 D) $115
One reason that explains why the short-run aggregate supply curve is upward sloping is:
A. the lag involved with public policy making. B. the changing profit levels experienced by firms. C. sticky wages. D. cartels keeping prices artificially high.