When the Dallas Cowboys score more than 30 points in a game, they win the game. This is an example of
A) an economic theory.
B) a correlation.
C) an incentive to win the game.
D) a normative statement.
E) a statement on the margin.
B
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The term "flexible exchange rates" refers to
A) a situation in which exchange rates are allowed to fluctuate in the open market in response to changes in supply and demand. B) the increase in the exchange value of one nation's currency in terms of an other nation. C) a nation in which households, firms, and governments buy and sell national currencies. D) the decrease in the exchange value of one nation's currency in terms of another nation.
Which country had the highest per capita expenditures on health care in 2009?
A. Australia B. Japan C. Norway D. United States
All the costs of a transaction are referred to as
A) transfer costs. B) transactions costs. C) marketing expenditures. D) accounting costs.
Carl is considering attending a concert with a ticket price of $35 . He estimates that the cost of driving to the concert and parking there will total an additional $20 . In order to attend the concert, Carl will have to take time off from his part-time job. He estimates that he will lose 5 hours at work, at a wage of $6 per hour. Carl's opportunity cost of attending the concert equals
a. $35 b. $55 c. $30 d. $65 e. $85