What is the opportunity cost of 1 tractor in terms of automobiles for the U.S. and Japan, respectively?
A. 0.5 automobiles and 2 automobiles
B. 0.5 automobiles and 1 automobile
C. 2 automobiles and 1 automobile
D. 2 automobile and .25 automobiles
B. 0.5 automobiles and 1 automobile
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A supply curve shows the ________ of producing one more unit of a good or service
A) producer surplus B) consumer surplus C) total benefit D) marginal cost E) marginal benefit to the producer
Refer to Figure 19-7. At what level should the Indian government peg its currency to the dollar to make U.S. imports cheaper in India?
A) less than $.02/rupee B) equal to $.02/rupee C) greater than $.02/rupee D) $1/rupee
In the aggregate demand and aggregate supply model,
a. the factors that cause the individual demand curve to slope downward are the same as the factors that cause the aggregate demand curve to slope downward. b. the factors that cause the individual supply curve to slope upward are the same as the factors that cause the short-run aggregate supply curve to slope upward. c. the upward-sloping aggregate demand curve intersects the downward-sloping short-run aggregate supply curve to determine the economy's price level and GDP. d. the upward-sloping short-run aggregate supply curve intersects the downward-sloping aggregate demand curve to determine the economy's price level and GDP.
The chairman of the Board of Governors of the Fed is designated by ____________________ to serve a _______ year term as chairman
A) the President; four B) Congress; fourteen C) the President; twelve D) Congress; four