The demand for dollars is downward sloping because when dollar appreciates,
a. Foreigners demand more US goods and services
b. Foreigners demand fewer US goods and services
c. Foreigners demand more dollars
d. Foreigners do not change their demand for US goods and services
b
Economics
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Which of the following statements about profit maximizing firms in a competitive market is FALSE?
A) Firms earn no economic profit in the long run. B) Marginal revenue does not have to equal marginal cost. C) p - MC = 0. D) Price equals marginal revenue.
Economics
The above figure shows the market for rice in Japan. SDomestic represents the domestic supply curve, and Sworld represents the world supply curve. If a $1 tariff is imposed on imported rice, the change in consumer surplus is
A) c + d. B) c + d +g. C) a + b + c + d. D) f + g.
Economics