Which is the best example of specialization?
A. a firm that produces both pet food and cooking oil
B. a person whose job includes accounting, personnel, and maintenance tasks
C. a high school math teacher who teaches only algebra
D. a high school math teacher who teaches algebra and calculus
Answer: C
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In a world with few impediments to capital mobility, the domestic interest rate equals the sum of the foreign interest rate and the expected depreciation of the domestic currency, a situation known as the
A) interest parity condition. B) purchasing power parity condition. C) exchange rate parity condition. D) foreign asset parity condition.
Budgets should be organized along line item budgets rather than program budgets in order to facilitate an evaluation of the effectiveness of government spending on an issue
a. True b. False
Factors that strongly influence a nation’s level of trade are:
a. its geographic size, geographic location, and history of trade. b. the size of its economy, the number of people, and its history of trade. c. the size of its economy, its geographic location, and its history of trade. d. the value of products, its geographic location, and its history of war.
A production indifference curve describes the input combinations that will produce a given output
a. True b. False Indicate whether the statement is true or false