Refer to the figure above. This country's exports equal
A) CE units of X.
B) GH units of Y.
C) CD units of X.
D) DE units of Y.
C
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The financial statement that sums up a firm's revenues, costs, and profit over a period of time is its
A) income statement. B) dividend yield statement. C) price-earnings statement. D) balance sheet.
Joan is deciding where to spend her spring break. If she goes to Cancún, Mexico, the trip will give her 9,000 units of utility and will cost her $300. If she travels to Florida instead, the trip will give her 8,000 units of utility and will cost her only $200. Joan will do best going to:
A. Mexico because her total pleasure will be greater. B. Florida because her pleasure per dollar will be greater. C. Mexico because her pleasure per dollar will be greater. D. Florida because her total cost will be lower.
The following condition describes the economic term “scarcity”:
a. The number of rental cars available at the airport b. The quality of the air that we breathe c. The time it takes to learn a new skill d. Global oil reserves are limited.
Use the following information to answer the next several questions:Scenario 1: Imagine that an economy produces two goods, flashlights and fishing lures. In 2015, the economy produced 70 flashlights and 40 fishing lures, and the prices of flashlights and fishing lures were $5 and $12, respectively. In 2016, the economy produced 85 flashlights and 50 fishing lures, and the prices of flashlights and fishing lures were $7 and $15, respectively. Based on the information in Scenario 1, nominal GDP grew by about ________ percent from 2015 to 2016.
A. 23 B. 31 C. 62 D. 162