Which term below refers to "the accumulation of goods produced in the past that are being used in the present to produce new goods and services"?
a. inventories
b. products
c. factors of production
d. capital
d
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Suppose that the price of an identical sport-utility vehicle is $32,000 in U.S. dollars in the United States and $32,000 in Canadian dollars in Canada
Suppose in addition that the exchange rate between Canada and the United States is one Canadian dollar equals $0.75 U.S. dollar. Does purchasing power parity hold for SUVs between the United States and Canada? A) Yes, because SUVs have the same price in each local currency. B) No, because SUVs are more expensive in Canada than the United States. C) No, because SUVs are more expensive in the United States than in Canada. D) Without knowing interest rates, we can't say.
Refer to Figure 19-8. The equilibrium exchange rate is originally at A, $1.25/euro. Suppose the European Central Bank pegs its currency at $1.00/euro
Speculators expect that the value of the euro will rise and this shifts the demand curve for euro to D2. If the European Central Bank abandons the peg, the equilibrium exchange rate would be A) $1.00/euro. B) $1.25/euro. C) $1.50/euro. D) $1.75/euro.
Refer to the table at right. When the quantity of labor equals? 4, what does the average product? equal?
A. 216 B. 18 C. 72 D. 9
If more people think a corporation's stock is overvalued than think it is undervalued then there is a
a. surplus, so its price will rise. b. surplus, so its price will fall. c. shortage, so its price will rise. d. shortage, so its price will fall.