An appreciating yen makes Japanese products
A) more expensive in foreign markets.
B) less expensive in foreign markets.
C) more expensive in the Japanese market.
D) more expensive in both foreign markets and the Japanese market.
Answer: A
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On a typical acre of land, Iowa can produce either 300 pounds of beef or 100 pounds of soybeans in a year. On a typical acre of land, Nebraska can produce 150 pounds of beef or 200 pounds of soybeans. Which of the following is correct?
A) Nebraska should produce soybeans because its opportunity cost of soybeans is lower. B) Iowa should produce soybeans because its opportunity cost of soybeans is higher. C) Iowa should produce soybeans because its opportunity cost of soybeans is lower. D) Nebraska and Iowa should divide each acre evenly between soybean and beef production. E) Nebraska should produce soybeans because its opportunity cost of soybeans is higher.
The adoption of inflation targeting in the United States ________
A) brought an end to the "dual mandate" regime B) resulted from legislation enacted in 1914 C) occurred after its adoption in more than a dozen other countries D) was blocked by its staunch opponent, Ben Bernanke
Which of the following is true?
A. The production possibilities curve indicates that it will be impossible to expand total output with the passage of time. B. As long as resources are scarce, output cannot be increased. C. The size of the economic pie is fixed, and therefore, if one individual has more income, others must have less. D. Over time, the output of goods and services can be increased through human ingenuity and discovery of better ways of doing things.
Expansion of a nation's human capital can be achieved through
A) education and training. B) education and saving. C) education and technology improvements. D) education only. E) nothing because human capital is determined by the skills people are born with.