The increase in stock prices in 2009 and 2010 was
A. a consequence of the elimination of the threat of a wider global depression.
B. totally irrational and unjustified by any fundamental determinants of stock values.
C. largely due to the sharply increased uncertainty regarding the strategically-critical financial sector.
D. the result of an elaborate conspiracy by greedy manipulators to ruin the Big Three automakers.
Answer: A
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Purchasing additional equipment for more people to use or share in a production environment usually results in a
A) higher level of output. B) more expensive level of output. C) backlog of production. D) worker sharing his or her load.
Club Med, which operates a number of vacation resorts, offers vacation packages at a lower price in the winter (i.e., the "off season") than in the summer. This practice is an example of:
A) peak-load pricing. B) intertemporal price discrimination. C) two-part tariff. D) bundling. E) Both A and B are correct.
By how much does the real, bilateral exchange rate change when the nominal, bilateral exchange rate changes from $1.10/€ to $1.00/€, the U.S. tradable basket from $500 to $600 and the Euro-Area tradable basket from €550 to €580?
a. The real exchange rate rises approximately by 18%. b. The real exchange rate falls approximately by 3% c. The real exchange rate rises approximately by 3% d. The real exchange rate falls approximately by 20% e. The real exchange rate falls approximately by 18%
Which of the following contributes to the high productivity of American workers?
A. The labor-intensive production process in the United States. B. The decreasing investment in human capital. C. The low level of factor mobility. D. The abundance of capital relative to labor.