The world price of a good refers to the quantity of one good exchanged for a unit of another good.

Answer the following statement(s) true (T) or false (F)


Ans: False

Economics

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Exchange rates under the Bretton Woods system were determined by relative supplies of gold held by countries within the system

Indicate whether the statement is true or false

Economics

Upon graduating from high school you have a job offer which would provide you with $20,000 in income for the coming year. You have also been accepted to Isaac and Avery college. Tuition for the coming year at I&A college is $15,000 . room and board is $10,000 and you expect that books will cost you $2,000 . What is the opportunity cost of attending I&A college?

a. $37,000 b. $27,000 c. $20,000 d. $32,000 e. $47,000

Economics

Which of the following is not considered a major player in the financial system?

A. Banks B. Savers C. Businesses D. Labor unions.

Economics

A simultaneous improvement in the technology used to produce computers and increase in the number of buyers in the computer market would cause the equilibrium price of computers to drop but have an uncertain effect on equilibrium quantity

Indicate whether the statement is true or false

Economics