If the dollar price of the English pound goes from $1.50 to $1.20, the dollar has
a. appreciated, and Americans will find English goods cheaper.
b. appreciated, and Americans will find English goods more expensive.
c. depreciated, and Americans will find English goods cheaper.
d. depreciated, and Americans will find English goods more expensive.
A
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In terms of economic growth, the key measure of the standard of living is
A) real GDP per capita. B) real GDP. C) nominal GDP. D) nominal GDP per capita.
The average cost of the distortion created by taxes
A) increases proportionately with the tax rate. B) is lower when the tax rate is constant than when it fluctuates. C) is higher when the tax rate is constant than when it fluctuates. D) equals the square root of the tax rate.
According to the graph above, a price ceiling in this market would be non-binding if it were set at:
A. $5.
B. $8.
C. $10.
D. $13.
Which of the following statements is not consistent with the "environmental explanation" of wage and productivity?
a. "Women are more likely than men to leave the labor force to care for children and hence acquire less work experience than do men." b. "Blacks and other minorities do not receive, on average, the same quality of education as whites." c. "Boys are more likely than girls to receive moral and financial support from their families to attend college." d. "Employers discriminate systematically against blacks and women."