If people in the United States buy more of a foreign good when its price falls, then
A) the demand curve for U.S. dollars will slope up.
B) the supply curve for U.S. dollars will slope up.
C) the exchange rate will increase when there is inflation.
D) fixed exchange rates will make foreign exchange markets more efficient.
Answer: B
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The figure above shows the costs associated with producing paper. When paper is produced, there is some pollution runoff into a lake. Without regulation, ________ tons of paper will be produced and the price will be ________ per ton
A) 3; $150 B) 4; $100 C) 4; $200 D) None of the above answers is correct.
Social Security taxes are
A) progressive because all workers pay the tax. B) regressive because higher income workers pay taxes on a smaller percentage of their income. C) proportional because everyone is charged the same percentage tax rate. D) regressive because higher income workers don't pay the tax.
Sam is responsible for ordering office supplies for the firm gets a bonus if the firm stays well-stocked at all times. The bonus implies he is more likely to
a. Pay lower prices for the supplies b. Pay higher prices for the supplies c. Have more stock outs d. Resign from the position
The market supply of labor is
A. The total quantity of labor that workers are willing and able to supply at alternative wage rates in a given period. B. Different for each individual based on training and education levels. C. The total of all goods produced in the economy each year. D. The sum of all jobs created in the economy each year.