A nation that allowed its currency to steadily depreciate (crawl) over a six-year period is:
a. France.
b. Canada.
c. the United Kingdom.
d. Colombia.
Ans: d. Colombia.
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When the government makes a firm the exclusive legal provider of a good or service, it grants the firm
A) a network externality. B) a copyright. C) a quota. D) a public franchise.
According to the text application on bottled water,
a. China is the largest consumer of bottled water worldwide b. bottled water is regulated by the rulings of the Safe Drinking Water Act c. bottled water is not regulated in the United States d. none of the above
Suppose there are only two firms in an economy: Rolling Rawhide produces rawhide and sells it to Chewy Chomp, Inc, which uses the rawhide to produce and sell dog chews. With each $1 worth of rawhide that it buys from Rolling Rawhide, Chewy Chomp, Inc produces a dog chew and sells it for $2.50 . Neither firm had any inventory at the beginning of 2014 . During that year, Rolling Rawhide produced
enough rawhide for 2000 dog chews. Chewy Chomp, Inc bought 90% of that rawhide for $1800 and promised to buy the remaining 10% for $200 in 2015 . Chewy Chomp, Inc produced 1800 dog chews during 2014 and sold each one during that year for $2.50 . What was the economy's GDP for 2014? a. $3,800 b. $4,500 c. $4,700 d. $5,000
Early in President Obama’s term, the government began ______.
a. relying completely on automatic stabilizers for fiscal policy b. a fiscal policy to slow the rapidly growing economy c. a fiscal policy designed to maintain the status quo d. the largest fiscal stimulus policy in U.S. history