When the U.S. dollar depreciates against other currencies:
a. foreign goods become less expensive to U.S. buyers.
b. U.S. goods become more expensive to foreign buyers.
c. foreign currencies depreciate against the U.S. dollar.
d. the volume of U.S. imports decline.
e. the volume of U.S. exports decline.
d
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Assuming all excess reserves are loaned out, if the reserve ratio is 40 percent, the money multiplier will be equal to
A) 2. B) 2.5. C) 4. D) 6.
One reason why the average salary of Major League Baseball players is higher than the average salary of college professors is
A) competition among baseball club owners forces player salaries to be much higher than the players' marginal revenue products. B) the marginal revenue product of baseball players is greater than the marginal revenue product of college professors. C) the careers of most baseball players are much shorter than the careers of most college professors. D) college professors accept lower salaries in exchange for better working conditions.