In 2009, there was an unlikely boom in British cross- Channel grocery deliveries to France due to:
a. an increase in French income.
b. an increase in French preferences for British food items.
c. crop failures in France due to a year-long drought.
d. a dramatic weakening of the British pound against the euro over the previous 18 months.
Answer: d. a dramatic weakening of the British pound against the euro over the previous 18 months.
You might also like to view...
Which of the following is NOT an injection?
A) The state of Illinois builds a new courthouse. B) Kansas farmers sell 1 million bushels of wheat to Russia C) The Smithsonian Institute purchases Chris Evert Lloyd's tennis racket. D) An accountant purchases a new personal computer for use in his office.
Everyone refers to Jerry as "Big Guy.". He is 6'4" tall and weighs 275 pounds (he says). It's probably closer to 300 pounds. Jerry loves hamburgers. He ate 4 of them at McDonald's one evening. He figured the last one was just worth the $1 price he paid. If his demand curve for hamburgers is downward sloping, then he
a. gained no consumer surplus because his demand curve is downward sloping b. would have gained consumer surplus if he had eaten one more hamburger c. gained consumer surplus on each of the four he consumed d. gained consumer surplus only on the first three hamburgers e. gained $1 consumer surplus on the fourth hamburger alone
In a given market, how are the equilibrium price and the market-clearing price related?
a. There is no relationship. b. They are the same price. c. The market-clearing price exceeds the equilibrium price. d. The equilibrium price exceeds the market-clearing price.
A perfectly competitive system results in an efficient allocation of resources among firms and an equal distribution of final products among households.
Answer the following statement true (T) or false (F)