Michael gets his first job after graduation with a weekly pay of $80 . This implies that his productivity is less than $80
Indicate whether the statement is true or false
F
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Assume an Australian importer expects to pay 16,000 Australian dollars (AUD) for $8,000 worth of U.S. goods, but on the shipment date 30 days later, the same volume of U.S. goods costs the Australian importer only 10,000 Australian dollars. This means that between the contract date and the payment date, the exchange rate has changed:
a. from $1 = 1.25 AUD to $1 = 2.0 AUD. b. from $1 = 2.0 AUD to $1 = 1.25 AUD. c. from $1 = 0.8 AUD to $1 = 0.5 AUD. d. from $1 = 0.5 AUD to $1 = 0.8 AUD. e. from $1 = 0.5 AUD to $1 = 2.0 AUD.
Keynes noted that that one solution to a recession was increased government spending, and while it would be nice if the government could spend additional money on housing, roads, and other amenities, he also argued that if the government could not agree on how to spend money in practical ways, then
a. it should not spend the additional money. b. a trade-off would appear. c. the Phillips curve would shift. d. it should spend in impractical ways.
During which decade were John Maynard Keynes' ideas challenged?
a. 1930s b. 1940s c. 1960s d. 1970s e. 1980s
A firm is producing 100 racing bicycles at a total cost of $84,000. The firm's fixed cost is $24,000. What is the average variable cost?
a. $840 b. $640 c. $600 d. $240