Protectionism may reduce imports, and it will also
A. appreciate the dollar, reducing exports.
B. appreciate the dollar, increasing exports.
C. depreciate the dollar, increasing exports.
D. depreciate the dollar, reducing exports.
Answer: A
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When there is a decrease in labor supply, real wages are likely to
A) remain the same. B) decrease. C) increase. D) allow less leisure time.
For a firm in monopolistic competition, the efficient scale is the amount of output at which ________ is a minimum
A) fixed cost B) average total cost C) average variable cost D) average fixed cost E) marginal cost
Between 1800 and 1910, the percentage of the U.S. population living in cities of 100,000 residents or larger went from ____ percent to roughly ___ percent
a. 15; 20 b. 10; 20 c. 5; 20 d. 0; 20
Assume that at the current market price of $4 per unit of a good, you are willing and able to buy 20 units. Last year at a price of $4 per unit, you would have purchased 30 units. What is most likely to have happened over the last year?
a. Demand has increased b. Demand has decreased c. Supply has increased d. Supply has decreased e. Quantity supplied has decreased