As foreign investors began to sell off investments they had made in Thailand, they traded in their baht for dollars. The result of this was
A) pressure for the value of the baht to rise.
B) an increase in the equilibrium value of the baht.
C) pressure for the value of the baht to decline.
D) a decrease in the supply of the baht in foreign exchange markets.
C
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Suppose the growth rate of GDP in the United States is 4.2 percent. If 1.1 percent and 1.4 percent of GDP growth are due, respectively, to capital and labor growth, the amount resulting from technological progress is
A) 0.3 percent. B) 1.1 percent. C) 1.4 percent. D) 1.7 percent.
Refer to Table 5.1. A risk-neutral individual making a decision solely on the basis of the above information would choose to major in
A) accounting. B) economics. C) English. D) political science. E) mathematics.
Unemployment insurance is:
A. money that is paid by the government to people who are unemployed. B. money that is paid to the government by employers who lay off employees. C. offered by the government as a way to affect the level of cyclical unemployment. D. offered by the government as a way to affect the level of seasonal unemployment.
Software programs have been introduced that allow you to use your personal computer like a telephone to talk to others who own the same software. One such program costs $50 to buy and allows you to make unlimited calls for free. The economics of
substitutions and complements are present in this scenario. a . Explain in economic terms the effect of these products on the market for long distance telephone service. b. Explain in economic terms the effect of these products on the market for personal computers.