If you are traveling in Thailand and you purchase a meal that costs 1,400 baht and the current exchange rate is 35 baht to the dollar, then the price of the meal in U.S. currency is
A. $400.
B. $40.
C. $4.
D. $0.40.
Answer: B
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Sweet Treats sells its extra-large cupcakes for $14 each and the firm has a constant marginal cost of $6 per cupcake, which is equal to its (constant) average total cost. If Sweet Treats does not sell a cupcake the day it is produced, it is sold as day-old for $4. Sweet Treats should hold the number of cupcakes in inventory that makes the probability of selling that quantity of cupcakes or more
equal to ________. A) 0.80 B) 0.20 C) 0.40 D) 0.60
A tradable allowance is:
A. the minimum amount set by the government that can be bought or sold in a market. B. the permitted price for the trade of a particular good. C. a production or consumption quota that can be bought or sold. D. None of these statements is true.
Imperfect competition
A. means there is no competition in the market. B. should always be regulated by the government C. is a major cause of externalities in the market. D. results in less efficient market outcomes.
When a U.S. citizen invests in foreign assets, the transaction is recorded in the balance of payments as a
a. credit in financial account. b. debit in the financial account. c. credit in the current account. d. debit in the current account.