A French citizen lives in Detroit, but works in Windsor, Canada; his income is counted in U.S. GDP

When the exchange rate between the U.S. dollar and the euro changes from 1.07 euros per dollar to 0.93 euros per dollar, then the

A) U.S. dollar has depreciated against the dollar. B) U.S. dollar has depreciated against the euro. C) euro has depreciated against the dollar. D) U.S. dollar has appreciated against the euro. E) euro has depreciated against the euro.

For a perfectly competitive firm, curve A in the above figure is the firm's

A) total fixed cost curve. B) average fixed cost curve. C) average variable cost curve. D) total revenue curve.