The price of a new car is $40,000 while the price of a five-year old car of the same brand is $16,000. The next year the price of the new car increases to $44,000 and the price of a five-year old car of the same brand is $17,600. The relative price of the used car
A. increased by 10 percent.
B. remained constant at 0.4.
C. decreased by $2,400.
D. decreased by 10 percent.
Answer: B
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In 2017, about what percentage of goods and services sold in the United States was imported?
A. 5 percent B. 15 percent C. 22 percent D. 88 percent
The major suppliers of U.S. dollars to the foreign exchange market are:
A. U.S. households or firms wishing to purchase foreign goods or assets. B. the Federal Reserve. C. U.S. households or firms wishing to purchase U.S. goods or assets. D. foreigners wishing to purchase U.S. goods or assets.
One interesting feature of a prisoner's dilemma game is that
A) non-cooperative behavior leads to lower payoffs than cooperative behavior. B) it was only valid before the industrial revolution. C) individuals behave irrationally when they behave non-cooperatively. D) cooperative behavior leads to lower payoffs than non-cooperative behavior.
There are several factors that nearly everyone agrees have contributed to economic growth in some or all countries. They do not include which of the following?
a. Growth in the quantity and quality of labor resources used b. Increase in the use of inputs provided by the land c. Growth in physical capital inputs d. All of the above are included.