Figure 18.1Refer to Figure 18.1. The opportunity cost of bicycles in the United States is:
A. 1/3 of a hang glider.
B. 1/2 of a hang glider.
C. 3 hang gliders.
D. 4 hang gliders.
Answer: C
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Gross domestic product (GDP) equals the ________ of final ________ produced within a country during a given period of time.
A. market value; goods and services B. quantity; goods and services C. market value; goods D. market value; services
If the prices in the United States rise faster than those in other countries,
A) the exchange rate rises. B) the exchange rate falls. C) then interest rate parity must not hold. D) the interest rate in the United States falls.
Which of the following is not included in the government's spending on security?
a. aircraft carriers b. police stations c. fire trucks d. highways e. county jails
If V = 5, P = $3, and Y = 50, then the quantity of money equals
What will be an ideal response?