Purchasing-power parity says that the nominal exchange rate must equal the real exchange rate
a. True
b. False
Indicate whether the statement is true or false
False
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Congestion taxes tend to cause an increase in traffic volume during rush hours
Indicate whether the statement is true or false
The effect of the invisible hand is likely to be the strongest under which market structure?
A) Oligopoly B) Monopoly C) Perfect competition D) Monopolistic competition
Refer to Table 7.1. What is the marginal product of the 3rd worker?
A. 4 units of output
B. 3 units of output
C. 15 units of output
D. 5 units of output
The above figure shows your budget line and indifference curves. What quantities of gasoline and movie rentals would you choose?
A) 25 gallons of gasoline and 15 movie rentals B) 10 gasoline and 10 movie rentals C) 20 gallons of gasoline and 5 movie rentals D) 15 gallons of gasoline and 8 movie rentals