If 1 Canadian dollar costs 0.60 U.S. dollars, 1 U.S. dollar costs:
A. 0.40 Canadian dollars.
B. 1.67 Canadian dollars.
C. 0.60 Canadian dollars.
D. 1.40 Canadian dollars.
Answer: B
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Refer to the scenario above. If the individual places his bet on ten pockets, his likelihood of winning is:
A) 5%. B) 10%. C) 20%. D) 25%.
A successful strategy of price discrimination requires that a firm be a price taker
Indicate whether the statement is true or false
Fiscal policy can:
A. have real effects on the economy in the short run. B. bring the economy to its long run equilibrium faster than it can correct itself. C. cause inflation. D. All of these are true.
Each of the following is a characteristic of socialism, except
A. prohibition of any private ownership of the means of production. B. a substantial degree of government planning. C. a large-scale redistribution of income. D. government ownership of some of the means of production.