Refer to Table 2-20. What is Thailand's opportunity cost of producing one wristwatch?
A) 0.05 pounds of rice B) 20 pounds of rice C) 25 pounds of rice D) 60 pounds of rice
B
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What is an advantage of using forward contracts instead of options to hedge against exchange-rate risk?
What will be an ideal response?
The relationship between a firm's price and sales quantity is described by the ______ for its product.
A. demand curve B. supply curve C. marginal cost curve D. average cost curve
12. At the national level, how many members are appointed by the president of the United States and confirmed by the Senate to serve on the Board of Governors?
a. 5 b. 6 c. 7 d. 8
The theory of rational expectations concludes that
A. by reacting to the expected effects of a stabilization policy, the public will tend to negate the impact of that policy. B. the public's expectations as to the effects of economic policies will tend to reinforce the effectiveness of those policies. C. the public's expectations can influence the outcome of fiscal policy, but not of monetary policy. D. the public's expectations can influence the outcome of monetary policy, but not of fiscal policy.