A depreciation of the U.S. dollar in the foreign exchange market lowers U.S. Real GDP when the _____________ shift of the SRAS curve exceeds the __________ shift of the AD curve
A) rightward; rightward
B) rightward; leftward
C) leftward; rightward
D) leftward; leftward
C
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Poor economies may have difficulty growing because
a. their production possibilities curves slope upward instead of downward b. they cannot cut back on their production of consumption goods to increase their production of capital goods c. they have a solid consumption base already in place d. their resource bases are fully developed e. the law of increasing costs makes it hard to produce more goods
Suppose Woody's Cabinetmaking calculates the following information for each cabinet produced in a given month: P = $300; Q = 100; AFC = $10; AVC = $140 . Woody's total profit for that month is
a. $140 b. $150 c. $15,000 d. $30,000 e. impossible to determine
If you own 100 shares of preferred stock, how many regular votes would you get to cast at the next stockholders meeting?
A) 500 B) 100 C) 1 D) 0
Assume that China has a comparative advantage in producing corn and exports corn to Japan. We can conclude that
A) China also has an absolute advantage in producing corn relative to Japan. B) China has a lower opportunity cost of producing corn relative to Japan. C) Japan has an absolute disadvantage in producing corn relative to China. D) Labor costs are higher for corn producers in Japan than in China.