On May 12, 2011 the U.S. dollar was worth 0.70 euros. How many dollars did it take to buy one euro?
a. 0.70
b. 1.43
c. 1.70
d. 2.70
b
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The following graph is the production possibilities frontier of a nation:
The opportunity cost of the fourth unit of bread is
A. 3 drill presses. B. 4 drill presses. C. 1 drill press. D. 0 drill presses.
The circular flow model with government included would show that government
A. produces goods and services and sells them in the product market to generate net taxes. B. obtains revenues in the product market and uses it to cover costs in the resource market. C. controls economic resources and sells them in the resource market. D. provides goods and services to businesses and households and pays for them with net taxes.
Corporate cultures are easily transferable between two organizations
Indicate whether the statement is true or false
The human skills theory is similar to the factor abundance theory of explaining the source of comparative advantage, except that the former concentrates only on different aspects of labor
a. True b. False Indicate whether the statement is true or false