A situation in which output decreases while prices increase is often referred to as:
A. inflation.
B. negative economic growth.
C. a recession.
D. stagflation.
Answer: D
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Which of the following changes in the exchange rate represents a depreciation of the dollar?
a. 100 yen = $1 to 110 yen = $1 b. 1 yen = $.10 to 1 yen = $.08 c. 1 pound = $3 to 1 pound = $4 d. $1 = 25 rubles to $1 = 30 rubles e. 20 euros = $10 to 25 euros= $10
In a two-person, two-good economy, the gains to specialization will be larger when:
A. there are large differences between the individuals in their opportunity costs of producing the two goods. B. there are small differences between the individuals in their opportunity costs of producing the two goods. C. neither person has an absolute advantage. D. one person has an absolute advantage in both goods.
Which of the following pairs of nations received the most remittances from their emigrants in 2011?
A. Mexico and Egypt. B. China and India. C. Pakistan and Iran. D. Vietnam and Thailand.