Appreciation of the Canadian dollar will:
A. intensify an existing disequilibrium in Canada's balance of payments.
B. make Canada's exports less expensive and its imports more expensive.
C. make Canada's exports more expensive and its imports less expensive.
D. make Canada's exports and imports both more expensive.
C. make Canada's exports more expensive and its imports less expensive.
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If one nation can produce greater quantities of a good than another nation, it has a(n) a. comparative advantage in producing that good
b. absolute advantage in producing that good. c. absolute advantage, but a comparative disadvantage in producing that good. d. comparative advantage, but an absolute disadvantage in producing that good.
Which of the following conditions is characteristic of a monopolistically competitive firm in both the short-run and the long run?
a. P > MC b. MC = ATC c. P < MR d. All of the above are correct.