An individual in the England wants to buy office equipment from England which costs $2,000 . If the exchange rate is 1pound=$1.9, how much will the office equipment cost him in pounds?
a. 2,000 pounds
b. 1,800 pounds
c. 3,800 pounds
d. 1,053 pounds
d
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The leader of a federal political party made the following campaign promise: "my administration will increase national defense without requiring sacrifices elsewhere in the economy." the promise can be kept if:
A. the economy moves along the production possibilities in the direction of a greater quantity of defense. B. the economy moves from a point inside the production possibilities curve toward a point on the production possibilities curve. C. the production possibilities frontier shifts outward due to an improvement in technology. D. either b) or c) occurs, but not as a result of a)
Consumer spending is an injection in the circular flow of income and spending
a. True b. False Indicate whether the statement is true or false
The trade philosophy of the Clinton administration is best characterized as
a. protectionist. b. mercantilist. c. free trade. d. strategic trade.
If a consumer chooses a combination of goods that are inside of her budget line, than
A) the consumer is maximizing her satisfaction. B) the consumer is spending more than her current income. C) the consumer has a constant marginal rate of substitution for the two goods. D) the consumer is not maximizing her satisfaction.