South Africa is a major wine producer. As Americans become more familiar with those wines and show an increased preference for them, an increased __________ the South African rand will cause the dollar to __________ relative to the rand
A) demand for; depreciate
B) demand for; appreciate
C) supply of; depreciate
D) supply of; appreciate
A
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The length of time people spend in search of a job increases if
A) there is a sudden change in technology. B) the population ages. C) the criteria necessary to qualify for unemployment benefits increases. D) unemployment benefits increase. E) the minimum wage is decreased.
Suppose demand can be described with the equation Q = 900?5P and supply with the equation Q = 100 + 5P. a. Determine the equilibrium price and quantity. b. Determine the surplus or shortage if the price were $100. ?
What will be an ideal response?
Mary takes 4 minutes to make a sandwich and 6 minutes to mix a cocktail. Her sister Ash takes 4 minutes to make a sandwich and 4 minutes to mix a cocktail. Calculate each sister's opportunity cost
Which of the two sisters has an absolute advantage in making sandwiches? In mixing cocktails? Which of the two has a comparative advantage in making sandwiches? In mixing cocktails?
Which statement is false?
A. The unemployment rate for blacks has consistently been double that of whites. B. The largest source of income is property income. C. Women have traditionally earned 60% of what men have earned. D. None of these statements are false.