Under a flexible exchange rate system, an increase in the value of the U.S. dollar in terms of other currencies is referred to as
A) a depreciation of the U.S. dollar.
B) an appreciation of the U.S. dollar.
C) a monetizing of the U.S. dollar.
D) a devaluation of the U.S. dollar.
B
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The unemployment rate ________
A) is essentially unchanged over the business cycle B) rises in economic expansions and falls in economic contractions C) falls consistently over both economic expansions and recessions D) varies over the course of the business cycle
Marginal product measures the change in:
a. total cost brought about by changing production by one unit. b. product price brought about by changing production by one unit. c. a firm's revenue brought about by changing production by one unit. d. the firm's output brought about by employing one additional unit of input. e. the firm's profit brought about by employing one more input.