Suppose that a slice of pepperoni pizza costs £1 in London and $2 in San Francisco. If the real exchange rate is one-third of a slice of U.S. pizza for one slice of British pizza, how many pounds should you receive in exchange for $1?
A) 1/3
B) 1.5
C) 2
D) 3
B
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The level of long-run aggregate supply is affected by all of the following except
A) changes in the capital stock. B) changes in the number of workers. C) changes in the technology. D) changes in the price level.
Explain the optimal strategy that a price discriminating firm would use when pricing in markets with different elasticities
What will be an ideal response?
?How does an increase in income affect the market for iPads (normal good)?
a. The demand curve for iPads shifts to the right
b. The demand curve for iPads shifts to the left
c. The supply curve for iPads shifts to the right
d. The supply curve for iPads shifts to the left
Capital gains are profits that you earn on the sale of your
A. labor. B. money. C. financial asset. D. economics textbook.