Productivity increases, brought about by increased education and training, may shift the aggregate supply curve outward

If the fundamental value of the exchange rate is ________ than the official (fixed) exchange rate, the country has an ________ problem, and it will gain reserves

A) less; overvaluation B) greater; overvaluation C) less; undervaluation D) greater; undervaluation

Suppose that a firm operating in perfectly competitive market sells 50 units of output. Its total revenues from the sale are $500 . Which of the following statements is correct? (i) Marginal revenue equals $5. (ii) Average revenue equals $10. (iii) Price equals $15

a. (i) only b. (ii) only c. (i) and (ii) only d. (i), (ii), and (iii)