Which of the following services have experienced declines in relative prices due to productivity increases?

The individual firm that hires labor under competitive conditions faces a labor supply curve that

A. slopes upward to the right. B. slopes downward to the right. C. is vertical, because workers need a job at any wage. D. is horizontal, because individual firms have no control over wages.

Each of the following would increase the supply of U.S. dollars, shifting the supply curve for dollars to the right, except:

A. an increase in the real interest rate on foreign assets. B. an increase in U.S. real GDP. C. an increased preference for foreign-made goods. D. an appreciation of the U.S. dollar relative to other currencies.