A consumer will maximize utility when all income is spent and the marginal utility is equal for all goods

Suppose the nominal exchange rate rises from 82 to 90. The domestic currency has appreciated by ________ percent

A) ten B) nine C) eight D) 86

In a perfectly competitive labor market, the least-cost combination rule for resource use

A) requires that resources be used in combinations such that marginal products are equal. B) requires that the marginal physical product per dollar spent for each resource is equalized. C) assures the firm an economic profit. D) assures the firm a normal profit.