Refer to Table 7-6. If the actual terms of trade are 1 belt for 1.5 swords and 50 belts are traded, how many swords will Morocco consume?
A) 60 B) 75 C) 135 D) 200
B
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In the quantity theory of money, the assumption that aggregate output is fixed is based on the view that ________
A) wages and prices are perfectly flexible in the long run B) the velocity of money is constant in the short run C) the demand for real money balances is proportional to income D) changes in the quantity of money lead to proportional changes in the price level E) none of the above
After calculating net domestic product at factor cost, to calculate GDP using the income approach, in part we must add
A) interest, rent, and profit. B) wages. C) indirect taxes and depreciation. D) net operating surplus. E) subsidies.
Which of the following items is not a factor of production?
A. An oil rig in the Gulf of Mexico B. A ski jump in Utah C. A bank loan to a farmer D. An orange grove in Florida
Even though women may often constitute the majority of the rural-urban migrants in a country, they usually still remain employed in the informal sector. Why? What are the consequences of this?
What will be an ideal response?