"I believe that consumer sovereignty is a good thing." This person believes that:
A. people are often manipulated by advertisers.
B. businesses should produce what people want.
C. people often have self-control problems.
D. businesses should produce for people's needs, not for profits.
Answer: B
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The purchasing power parity theory
a. is more a predictor of a long-run tendency than of the day-to-day relationship between changes in the price level and the exchange rate b. predicts that exchange rates between two currencies will adjust in the long run to reflect the price level difference between two countries c. is more a predictor of a short-run phenomenon than of a long-run relationship between the price level and the exchange rate between two countries d. is helpful in explaining long-run trends, even though trade barriers and central bank intervention may hinder the usefulness of the theory e. tells us that a country's currency generally will appreciate if its inflation rate is lower than that of the rest of the world
If real GDP per person were equal to $1,000 in 1900 and grew at a one percent annual rate, what would be the value of real GDP per person 100 years later?
A. $11,000 B. $13,780 C. $1,100 D. $2,705
The nominal interest rate in the U.S. is 5% and the nominal interest rate in Canada is 3%. The spot value of the U.S. dollar is 1 ($/Canadian dollar) and the forward rate is 1.2 ($/Canadian dollar). Calculate the forward discount or premium for the dollar. Does the interest parity condition hold? If not explain what is likely to occur in foreign exchange markets. Assume that interest rates cannot
change. What will be an ideal response?
According to the above figure, the profit-maximizing price for the monopolist is
A. A. B. B. C. C. D. D.