If you were told that the exchange rate was 1.2 U.S. dollars for one Canadian dollar,that would mean that Canadians would have to spend ____ to buy a $12 watch in New York City
A. 18 Canadian dollars
B. 10 Canadian dollars
C. 12 Canadian dollars
D. 14.4 Canadian dollars
Answer: B
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The benefit of the production of capital is
a. decreased current production of consumption goods b. increased future production of consumption goods c. the amount of roundabout production d. abundant capital accumulation e. the decreased amount of future capital available
What is the equation of exchange? What are the variables, which are in it, and how do they relate to each other?
If scientific research produces a technological breakthrough in the production of computer memory, then
a. business costs will increase, profits will fall, and production will decrease. b. business costs will fall, but profits will also fall, and production will decrease. c. business costs will fall, profits will improve, and production will increase. d. profits will increase, allowing businesses to cut back production.
The industry represented by the graph above where S1 and S2 are short-run supply curves, D1 and D2 are short-run demand curves, and LRS is the long-run supply curve can be said to be:
A. an increasing-cost industry. B. an average-cost industry. C. a decreasing-cost industry. D. a constant-cost industry.