A depreciation is
A) a decrease in the trade deficit. B) a decrease in the value of currency.
C) an increase in the trade surplus. D) an increase in the value of currency.
B
Economics
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A perfectly competitive firm earns a profit when price is
A) equal to minimum average variable cost. B) above minimum average total cost. C) equal to minimum average total cost. D) equal to minimum average fixed cost.
Economics
According to the modern expectational Phillips curve illustrated inFigure 15-2 , unemployment will temporarily rise above the natural rate of unemployment when
a. inflation turns out to be lower than what people expected.
b. inflation turns out to be higher than what people expected.
c. inflation turns out to be equal to what people expected.
d. all of the above are true.a
Economics