You are planning a graduation trip to Mexico. Other things the same, if the dollar depreciates relative to the peso, then
a. the dollar buys fewer pesos. Your hotel room in Mexico will require fewer dollars.
b. the dollar buys fewer pesos. Your hotel room in Mexico will require more dollars.
c. the dollar buys more pesos. Your hotel room in Mexico will require fewer dollars.
d. the dollar buys more pesos. Your hotel room in Mexico will require more dollars.
b
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If the marginal product of a worker is 10 units and each unit of the good is sold for $5, the value of marginal product of the worker is:
A) $2. B) $5. C) $10. D) $50.
Edward Chamberlin argued that brand names
a. hampered market efficiency. b. were instrumental in enhancing market efficiency. c. were useful in enhancing market efficiency when the government enforced the use of exclusive trademarks. d. were likely to be more socially efficient when used in conjunction with advertising.