New England's imports came primarily from
a. the United Kingdom.
b. continental Europe.
c. the West Indies.
d. Africa.
a. the United Kingdom.
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Nondeliverable forward exchange markets in centers such as Hong Kong and Singapore help to circumvent which problem?
A) loss of goods shipped from Hong Kong and Singapore B) inconvertible currencies cannot be traded in foreign markets C) lag between the spot exchange date and the value date D) high travel costs from Asia to "traditional" foreign exchange markets E) unstable currencies that hold no purchasing power
Consider two goods, X and Y, where X is measured on the horizontal axis and Y is measured on the vertical axis. All else constant, a decrease in the price of X will cause the consumer's budget constraint to:
A) rotate in along the X axis B) rotate out along the X axis. C) shift out parallel to the original budget constraint. D) shift in parallel to the original budget constraint.
Because industrywide advertising is a ________ good, optimal industrywide advertising is ________ to achieve.
A) public; easy B) private; easy C) private; difficult D) public; difficult
Refer to Figure d, which illustrates a game played by Travis and Darren. Darren's dominant strategy is:
A. East.
B. West.
C. neither East nor West because East is only weakly dominated.
D. both East and West.