What is the MOST likely reason neighboring nations engage in trade?
a. labor availability
b. similar tastes and preferences
c. proximity
d. shared membership in a free trade area
Ans: c. proximity
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When the price of bananas rises 2 percent, the quantity demanded of peanut butter falls 4 percent
a. What is the cross elasticity of demand between these two goods? b. How are these goods related? c. If the price of bananas rises, how will that affect the demand curve for peanut butter?
The ________ interest rate is adjusted for expected changes in the price level
A) ex ante real B) ex post real C) ex post nominal D) ex ante nominal
What are the total profits if four units are produced? a. 40
b. 70. c. -30. d. 20.
A college student working in a minimum-wage job has a __________ opportunity cost of __________ than a college dean
a. lower; market work b. lower; leisure c. higher; market work d. higher; nonmarket work e. higher; leisure