If the price of lumber rises, then, in the market for sawdust
A) the supply curve of sawdust shifts leftward.
B) the supply curve of sawdust shifts rightward.
C) there is a movement downward along the supply curve for sawdust.
D) there is a movement upward along the supply curve for sawdust.
B
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What are the properties of indifference curves?
If purchasing-power parity holds, then the value of the
a. nominal exchange rate is equal to one. A dollar buys as many goods in the U.S. as it does overseas. b. nominal exchange rate is equal to one. A dollar buys the quantity of foreign currency equal to the U.S. price level divided by the foreign country's price level. c. real exchange rate is equal to one. A dollar buys as many goods in the U.S. as it does overseas. d. real exchange rate is equal to one. A dollar buys the quantity of foreign currency equal to the U.S. price level divided by the foreign country's price level.