If the exchange rate is .70 euro per dollar, the price of an MP3 player in Paris is 150 euros and the price of an MP3 player in the U.S. is $150, then what is the real exchange rate?
a. 1/.70 French MP3 players per U.S. MP3 player
b. 1 French MP3 players per U.S. MP3 player
c. .70 French MP3 players per U.S. MP3 player.
d. None of the above are correct.
c
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Which of the following is a key difference between firms in a perfectly competitive industry and firms in a monopolistically competitive industry?
a) A monopolistically competitive firm does not face entry from other firms. b) A monopolistically competitive firm does not have the exact same product as other firms. c) A monopolistically competitive firm does not choose a level of output where marginal cost is equal to marginal revenue. d) A monopolistically competitive industry does not have a large number of sellers.
Goods whose benefits to society are not diminished as more people consume them and whose benefits cannot be withheld from anyone are:
a. impossible since resources are limited. b. examples of negative externalities. c. public goods. d. food and other necessities. e. provided by free markets to free riders.
One of the challenges for modern scholars, policy makers, and citizens concerning international politics is discerning
a. the positive from the negative aspects of democracy. b. changes in patterns of global inequality. c. what represents a state and what represents an individual. d. what represents change and what represents continuity.
Assume that oranges and peaches can both be grown on the same type of land, a decrease in the price of peaches, other things being equal, will cause a(n):
A. upward movement along the supply curve for oranges. B. downward movement along the supply curve for oranges. C. rightward shift of the supply curve for oranges. D. leftward shift of the supply curve for oranges.