At a recent company meeting, Ravi Batra, sales manager of Life's a Beach, a surfboard producer announced, "We have increased our sales by 13 percent in just 9 months
" Suppose 9 months ago, its sales amounted to $245,000, what is the value of its sales today?
A) $31,850 B) $207,638 C) $276,850 D) $359,905
C
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By the theory of intertemporal substitution of labor, a higher current real interest rate ________ the amount of labor ________ at each real wage rate in the current period
A) raises, demanded B) raises, supplied C) lowers, demanded D) lowers, supplied
Almost all economists agree that rent control
a. has no effect on the rental income of landlords. b. allows the market for housing to work more efficiently. c. adversely affects the availability and quality of housing. d. is a very inexpensive way to help the most needy members of society.
Suppose a McDonald's Big Mac costs 30 pesos in Argentina. At the same time, suppose the exchange rate between the peso and the euro is roughly 15 pesos per euro. According to purchasing power parity, a Big Mac in Europe should cost:
A. 15 euros. B. 30 euros. C. 2 euros. D. 0.50 euros.
How does the treatment of international transactions differ with respect to gross national product and gross domestic product? Explain. Why do you think that the U.S government has switched from using GNP to using GDP
What will be an ideal response?