A Big Mac costs $4.00 in the United States and 9.00 reals in Brazil. If the exchange rate is 2 reals per dollar, what is the dollar cost of a Big Mac in Brazil?
A) $0.89
B) $2.25
C) $4.50
D) $8.00
C
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A market maker faces the following demand and supply for widgets. Eleven buyers are willing to buy at the following prices: $15, $14, $13, $12, $11, $10, $9, $8, $7, $6, $5 . Eleven sellers are also willing to sell at the same prices. If the market maker decides to only make one transaction what is his profit/bid-ask margin
a. $8 b. $10 c. $12 d. $16
As a consumer moves along a budget constraint:
A. income is held constant, but prices change. B. prices and income are held constant, but quantities change. C. prices are held constant, but income changes. D. total utility is held constant, but prices and income change.
We all behave as "speculators" in the broadest sense of the word
What will be an ideal response?
The Motor Carrier Act of 1980 resulted in:
A. lower freight prices. B. more firms entering the trucking industry. C. lower value of a trucking license. D. All of these are correct.