Which of the following generates demand for foreign currencies?
A. The building of plants by foreign corporations in the United States.
B. Exports from the United States to foreign countries.
C. Foreign tourists traveling to the United States.
D. Imports of foreign goods by firms located in the United States.
Answer: D
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For a perfectly competitive palm tree nursery in South Carolina, the total revenue curve is
A) downward sloping. B) a horizontal line. C) upward sloping. D) U-shaped. E) undefined because the firm is perfectly competitive.
Joe and Rita each have some cookies and milk. Joe is willing to trade 2 cookies for an additional ounce of milk. Rita is willing to trade four cookies for an additional ounce of milk
If trading is possible, which of the following is most likely to occur? A) Joe will give some milk to Rita in exchange for cookies. B) Rita will give some milk to Joe in exchange for cookies. C) No trade will take place since they both prefer to have more milk and fewer cookies. D) There is not enough information to make any predictions.
Abstraction ignores many details in order to focus on the most important elements of a problem
a. True b. False Indicate whether the statement is true or false
Which of the following is an example of a progressive tax?
A. Social Security payroll tax. B. The federal income tax. C. An excise tax. D. A local sales tax.