The "law of demand" states that, other thing remaining the same, the higher
A) the price of a good, the lower is the demand for this good.
B) consumers' incomes, the greater is the demand.
C) the price of a good, the higher is the quantity demanded.
D) the price of a good, the smaller is the quantity demanded.
D
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If the Brazilian demand for American exports rises at the same time that U.S. productivity rises relative to Brazilian productivity, then, in the long run, ________, everything else held constant
A) the Brazilian real will appreciate relative to the U.S. dollar B) the Brazilian real will depreciate relative to the U.S. dollar C) the Brazilian real will either appreciate, depreciate, or remain constant relative to the U.S. dollar D) there is no effect on the Brazilian real relative to the U.S. dollar
Under rate-of-return regulation, the price is set so that
A) price equals the marginal cost of production. B) the firm earns a positive economic profit. C) the firm earns a monopoly profit. D) the firm earns a normal rate of return on investment.