When the U. S. dollar appreciates against the Russian ruble, then American tourists who travel to Russia will benefit from the new exchange rate. Russian oil is more expensive for American consumers. the Russian government will purchase more American wheat. American jewelers will import less gold jewelry from Russia. Russian workers in American owned factories will receive a lower wage.

Producers can create their maximum combination of goods, s long as what?

In north korea, a farmer’s income is the same as a dentist’s income. in a country with a mixed or market economy, the difference between those two professions might be more than 5 times different. how can you explain the fact that individuals doing the same work in different countries do not earn comparable salaries?

Which of the following is a function performed by market prices? a. market prices communicate information to buyers and sellers. b. market prices coordinate the decisions of buyers and sellers. c. market prices motivate entrepreneurs to produce those products that are currently most desired relative to their costs of production. d. all of the above are functions performed by market prices.