The exchange rate of currencies between countries affects the prices of the goods purchased and sold between them
Indicate whether the statement is true or false
TRUE
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The marginal rate of substitution
A) is minus the slope of the indifference curve. B) can be computed by measuring the curvature of the indifference curve. C) cannot be deduced from the properties of the indifference curve. D) can only be computed if we know the prices of all goods.
Country A experienced a growth rate of real GDP per person of 0.5 percent per year throughout the 1900's. In view of other countries' experiences, country A's growth was
a. exceptionally high. b. moderately high. c. moderately low. d. exceptionally low.
If all developed countries were willing to meet the U.N.'s Millennium Aid Goal for foreign aid, this would eliminate global poverty.
Answer the following statement true (T) or false (F)
You are the manager of a supermarket, and you know that the income elasticity of peanut butter is exactly ?0.7. Due to the economic recession, you expect incomes to drop by 15 percent next year. How should you adjust your purchase of peanut butter?
A. Buy 9.8 percent less peanut butter. B. Buy 10.5 percent more peanut butter. C. Buy 6.2 percent less peanut butter. D. Buy 2.14 percent more peanut butter.