While on the gold standard prior to 1914, an ounce of gold could be redeemed for ________ , after World War II it could be redeemed for ________
a. $4; $20
b. $4; $5
c. $20; $35
d. $4; $35
c
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A country opens up to trade and exports computer chips. In the computer chip market, surplus has been redistributed from
A) consumers to producers. B) producers to consumers. C) producers to government. D) government to consumers.
If the wage rate paid to one form of labor is twice the cost of another form of labor, the first type of labor must be twice as productive
Indicate whether the statement is true or false
Which of the following statements is correct?
a. Purchasing Power Parity occurs when nominal interest rates are the same in two countries. b. Purchasing Power Parity means that the nominal exchange rate is 1 to 1. c. Purchasing Power Parity means that two countries have the same standard of living. d. Purchasing Power Parity means that the real exchange rate equals 1 to 1.
Which of the following would help reduce our trade deficit?
A. Reduce our trade deficit with China B. Lower our dependence on oil imports C. Reduce our consumption habits D. All of the choices would help reduce our trade deficit.