A good that if supplied to one person is supplied to all and whose consumption by one individual does not prevent its consumption by another individual is known as:
A. an internal good.
B. a public good.
C. an external good.
D. a private good.
Answer: B
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________ is likely to result in an increase in the total efficiency units of labor in an economy
A) A decrease in the capital-labor ratio in the economy B) An increase in the unemployment rate in the economy C) A decrease in the labor force participation rate in the economy D) An increase in the productivity of each worker in the country
If the exchange rate rises as shown by the arrow, the price of American exports to foreigners will be ________, and foreign nations will demand ________ dollars in order to buy ________ American exports
A) higher; fewer; fewer B) cheaper; fewer; more C) cheaper; more; more D) cheaper; fewer; fewer E) higher; more; more
Which of the following features is included in the NAFTA Agreement?
I. a common tariff structure adopted by Canada, Mexico, and the United States II. elimination of tariffs on trade among Canada, Mexico, and the United States III. free mobility of labor and capital among Canada, Mexico, and the United States a. I b. II c. III d. I, II, and III
If the present value of $110 to be received one year from now is $100, what will $100 be worth two years from now?
A. $100 B. $121 C. $110 D. can't say since we don't know what the interest rate is