If it is said that a currency is undervalued against the dollar, it is meant that:
A) the dollar is worth more of that currency than it would have been under a fixed exchange rate regime.
B) the dollar is worth more of that currency than it would have been under a flexible exchange rate regime.
C) the dollar is worth less of that currency than it would have been under a fixed exchange rate regime.
D) the dollar is worth more of that currency than it would have been under a managed exchange rate regime.
B
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a. True b. False Indicate whether the statement is true or false
A farmer who has fixed amounts of land and capital finds that total product is 24 for the first worker hired; 32 when two workers are hired; 37 when three are hired; and 40 when four are hired. The farmer's product sells for $3 per unit and the wage rate is $13 per worker. The marginal product of the second worker is
A. 5. B. 24. C. 8. D. 1.