Ariel is a Canadian citizen who works in Montreal, Canada and owns a winter home in Palm Beach, Florida. When Ariel spends the winters in Palm Beach, an increase in the value of the Canadian dollar relative to the U.S. dollar should
A) hurt Ariel as it is now more expensive to live in Palm Beach since the Canadian dollar appreciation.
B) help Ariel as each Canadian dollar of her salary is now worth more U.S. dollars.
C) hurt Ariel as each Canadian dollar of her salary is now worth less U.S. dollars.
D) help Ariel as it is now less expensive to live in Canada since the Canadian dollar appreciation.
B
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All of the following are examples of product differentiation except one. Which is the exception?
a. developing a new video game or a computer program called "How to Teach Your New Dog Old Tricks" b. manufacturing a car that minimizes outside noise relative to other cars c. lowering the price of a good in a special sale d. providing movies and special meals on airline flights e. making sodium-free, caffeine-free colas
A conspiracy among firms to fix prices was outlawed by the Sherman Antitrust Act
a. True b. False Indicate whether the statement is true or false
After John's income rose by 8 percent, the amount of chicken he consumed fell by 2 percent. This means that
a. his income elasticity for chicken is positive b. chicken is a normal good for John c. his demand curve for chicken shifted to the left d. his demand curve for chicken shifted to the right e. John is spending more of his income on chicken than before
In 2016 the Bureau of Labor Statistics reported that there were 62.2 million people over age 25 whose highest level of education was a high school degree or equivalent. Of these, 33.7 million were employed and 1.8 million were unemployed. What were the labor-force participation rate and the unemployment rate for this group?
a. 54.2% and 2.9% b. 54.2% and 5.1% c. 57% and 2.9% d. 57% and 5.1%