Under the Bretton Woods system the international reserve currency was the
A) U.S. dollar.
B) British pound.
C) German mark.
D) Japanese yen.
A
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Refer to the figure above. A change in the budget constraint from B1 to B2 indicates:
A) an increase in the price of sweaters. B) a decrease in the price of sweaters. C) an increase in the consumer's income. D) a decrease in the consumer's income.
Tijuana, Mexico is across the border from San Diego, California
It has become a world-leading producer and exporter of television sets and computer monitors, which it assembles in modern factories owned by multinational consumer electronics firms such as Sony. Initially, these electronics were produced in the industrialized countries of their parent companies, and after several years, the production moved to Tiajuana. This is an example of A) the product cycle. B) intraindustry trade. C) the specific factors model. D) the magnification effect. E) None of the above.
The area between the market price and the demand curve provides a measure of: a. consumer surplus
b. producer surplus. c. consumer surplus plus producer surplus. d. marginal utility.
Hooterville has seen its population grow by 200% over the past decade (10 years). Urban sprawl has occurred as city services have been extended to formerly rural areas. Mark's Manhole Cover Company, Inc has seen sales to the City of Hooterville triple during this period. This is most likely due to
a. increased manhole cover prices b. increased quantity supplied of manhole covers c. altered consumer expectations d. increased demand for manhole covers e. increased supply for manhole covers