If 40 Russian rubles = $1 U.S.,
A. 1 ruble = $.025
B. 1 U.S. cent = 4 rubles
C. 40 U.S. cents = 100 rubles
D. $4 = 120 rubles
A. 1 ruble = $.025
You might also like to view...
Ownership of a necessary input creates what type of barrier to entry?
A) legal barrier to entry B) natural barrier to entry C) a public franchise D) a government license E) ownership barrier to entry
The marginal product of labor is defined as
A) the change in output that a firm produces as a result of hiring one more worker. B) the additional labor cost of producing one more unit of output. C) the change in total revenue that results when an additional unit of a labor is hired. D) the additional labor required to produce one more unit of output.
The unemployment rate reported by the Bureau of Labor Statistics includes all of the following type of unemployment with the exception of
A) frictional unemployment. B) structural unemployment. C) hidden unemployment. D) cyclical unemployment.
A firm is producing 1,000 units of output for which the average variable cost of production equals 50 cents. The firm's total fixed costs equal $700 . The total cost of producing 1,000 units of output equals: a. $700
b. $500. c. $1,000. d. $1,200.