On May 12, 2011, it cost U.S. $1.44 to buy 1 euro. How many euros would U.S. $1 buy?
A. 0.69
B. 1.44
C. 1.69
D. 2.44
Answer: A
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What does the concept of "invisible hand" imply?
What will be an ideal response?
If speculators with Swiss francs believed the yen was going to depreciate against the dollar, they would most likely: =
A. Purchase euros. B. Not participate in foreign exchange markets because of the volatility. C. Purchase dollars. D. Purchase yen.
Which of the following is true about the combination of televisions and smartphones represented by point F in Figure 1.4?
A. Point F is unattainable even with advances in technology. B. Point F is inefficient now. C. Point F can possibly be reached if more economic resources become available or technology improves. D. Point F will be more easily attainable if the government takes control of all privately run factories.
U.S. antitrust laws view monopolies as undesirable because
A. monopolies restrain trade and promote inefficiencies. B. monopolies create inferior products. C. monopolies produce only cheap, low quality goods. D. monopolies produce only capital goods.