An individual in the US wants to buy office equipment from England which costs 2,000 pounds. If the exchange rate is 1pound=$1.9, how much will the office equipment cost him in dollar terms?
a. $2,000
b. $2,800
c. $3,800
d. $1052
c
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Suppose that a worker in Country A can make either 10 iPods or 5 tablets each year. Country A has 100 workers. Suppose a worker in Country B can make either 2 iPods or 10 tablets each year. Country B has 200 workers. Country A would be using resources efficiently if it produced:
A. (500 iPods, 100 tablets). B. (500 iPods, 150 tablets). C. (500 iPods, 200 tablets). D. (500 iPods, 250 tablets).
Dent 'n' Scratch Used Cars and Trucks employs 3 salesmen. Data for their sales last month are shown in this table: Cars SoldTrucks SoldLarry105Joe99Ralph312 Based on last month's data, Ralph's opportunity cost of selling a truck is selling:
A. 3 cars. B. 4 cars. C. 1/4 of a car. D. 1/3 of a car.
Assume that a consumer purchases a combination of products Y and Z and that the MUy/Py = 25 and MUz/Pz = 20. To maximize utility, without spending more money, the consumer should:
A. Purchase less of Y and more of Z B. Purchase more of Y and less of Z C. Purchase more of both Y and Z D. Make no change in Y and Z
Refer to the data. This commercial bank has excess reserves of:
Use the following balance sheet for the ABC National Bank in answering the question. Assume the required reserve ratio is 20 percent.
A. $0.
B. $3,000.
C. $12,000.
D. $5,000.