In the short run, marginal cost is increasing when
A) MPL is decreasing.
B) MPL is increasing.
C) APL is increasing.
D) APL is decreasing.
A
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Suppose that Argentina's dollar-denominated external assets and liabilities are $10 billion and $100 billion, respectively, and its Argentine peso-denominated external assets and liabilities are each 50 billion pesos (P). Suppose further that Argentina fixes its exchange rate at P1 = $US1. Suppose that Argentina changes its exchange rate to P3 = $US1. Now what is the peso value of Argentina's total external wealth?
A) -270 billion pesos B) -150 billion pesos C) 0 D) -210 billion pesos
If the aggregate price level ________, but nominal wages stay fixed, labor demand ________
A) falls; remains unchanged B) rises; falls C) rises; remains unchanged D) falls; falls