A country that wishes to narrow its trade deficit devalues its currency. If domestic demand for imports is perfectly price-inelastic, whether devaluing the currency will result in a narrower trade def
A. The size of the currency devaluation.
B. The countrys ratio of imports to exports.
C. Price elasticity of demand for the countrys exports.
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A decrease in assets would least likely be consistent with a（n）:
A. Increase in expenses.
B. Decrease in revenues.
C. Increase in contributed capital.
Compared to a customs union or a common market, the primary advantage of an economic union is that:
A. Its members adopt a common currency.
B. Its members have a common economic policy.
C. It removes barriers to imports and exports among its members.
The Canadian dollar （CAD） exchange rate with the Japanese yen （JPY） changes from JPY/CAD 75 to JPY/CAD 78. The CAD has:
A. Depreciated by 3.8%,and the JPY has appreciated by 4.0%.
B. Appreciated by 3.8%,and the JPY has depreciated by 4.0%.
C. Appreciated by 4.0%,and the JPY has depreciated by 3.8%.
Which of the following statements about the behavior of firms in a perfectly competitive market is least accurate？
A firm experiencing economic losses in the short run will continue to operate if its revenues are greater than its variable costs.
B. A firm that is producing less than the quantity for which marginal cost equals the market price would lose money by increasing production.
C. If firms are earning economic profits in the short run,new firms will enter the market and reduce economic profits to zero in the long run.
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