Which of the following reflects changes in expenditure patterns as well as price changes?
A. The PPI.
B. The COLA.
C. The GDP deflator.
D. The CPI.
Answer: C
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High Tech, Inc. produces plastic chairs that sell for $10 each. The following table provides information about how many plastic chairs can be produced per hour. Number of WorkersChairs Produced Per Hour00110218324428530For simplicity, assume that labor is the only input. How many workers will be hired if the hourly wage for workers is $50?
A. 5 B. 3 C. 2 D. 1
As a country begins to liberalize its capital account, what would you expect to happen to the difference between the interest rates for similar assets in this country and another country with open capital markets?
A) get larger B) get smaller C) stay the same D) it depends on the existing exchange rate. E) exponential divergence
The practice of selling a product to different customers at different prices when marginal cost is the same is known as: a. price discrimination. b. monopoly pricing
c. arbitrage. d. price segregation.
The national defense of the United States is not rival because
a. my enjoyment of the national defense does not diminish your enjoyment of the national defense of the United States. b. my enjoyment of the national defense does diminish your enjoyment of the national defense of the United States. c. once the nation is defended, it is impossible to prevent any single person from enjoying the benefit of this defense. d. once the nation is defended, it is possible to prevent any single person from enjoying the benefit of this defense.