Suppose that a worker in Country A can make either 10 iPods or 5 tablets each year. Country A has 100 workers. Suppose a worker in Country B can make either 2 iPods or 10 tablets each year. Country B has 200 workers. Country B would be using resources efficiently if they were producing:
A. (200 iPods, 1,750 tablets).
B. (200 iPods, 1,500 tablets).
C. (200 iPods, 1,000 tablets).
D. (200 iPods, 750 tablets).
C. (200 iPods, 1,000 tablets).
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A ticket to see the Radio City Rockettes costs $90. You buy a ticket for $30 to see the New York Jets play football. The money price for
A) the Rockettes ticket is $90 and the relative price is 3 Jets tickets per Rockette ticket. B) the Rockettes ticket is 3 Jets tickets per Rockette ticket and the relative price is $90. C) a Jets ticket is $30 and the relative price is 3 Rockettes tickets per Jets ticket. D) a Jets ticket is $30 and $3 for a Rockettes ticket.
A profit maximizing single-price monopolist sets price equal to marginal cost
Indicate whether the statement is true or false
If the economy is self-regulating and in a recessionary gap, what happens?
A) Wages rise, the SRAS curve shifts leftward, and both Real GDP and the price level rise. B) Wages fall, the SRAS curve shifts leftward, the price level rises, and Real GDP falls. C) Wages fall, the SRAS curve shifts rightward, and both the price level and Real GDP fall. D) Wages fall, the SRAS curve shifts rightward, the price level falls, and Real GDP rises. E) none of the above
If the expected future spot exchange rate value of the foreign currency decreases, with the interest rate differential unchanged, the current spot exchange-rate value of the domestic currency
A. decreases. B. overshoots. C. increases. D. remains unchanged.