If the share of population employed in two countries is the same, average living standards will be higher in the country with:
A. lower average labor productivity.
B. higher average labor productivity.
C. the smaller population.
D. the larger population.
Answer: B
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The schedule of tolls capable of maximizing the net revenue of a bridge owner
A) has no relationship to the cost of constructing the bridge. B) is the highest anyone will pay rather than forgo the opportunity to cross the bridge. C) varies proportionately to the cost of constructing the bridge. D) will be higher than the corresponding tolls for a tunnel, because tunnel construction costs must be sunk rather than elevated.
On May 12, 2011, it cost U.S. $1.64 to buy one British pound. How many British pounds would U.S. $1 buy?
a. 0.56 b. 0.61 c. 1.64 d. 2.64
The Federal Open Market Committee consists of
A) the seven member Board of Governors of the Federal Reserve. B) the 12 Federal Reserve Bank Presidents. C) five of the Federal Reserve Bank Presidents. D) the Board of Governors plus five of the Federal Reserve Bank Presidents.
Which of the following would call for inpayments to the United States?
A. Gold flows into the United States. B. U.S. firms sell insurance to Brazilian shippers. C. The United States sends foreign aid to developing countries. D. The United States imports German automobiles.