Ivan, a Russian citizen, sells several hundred cases of caviar to a restaurant chain in the United States. By itself, this sale
a. increases U.S. net exports and decreases Russian net exports.
b. increases U.S. net exports and has no effect on Russian net exports.
c. decreases U.S. net exports and increases Russian net exports.
d. decreases U.S. net exports and has no effect on Russian net exports.
c
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The real business cycle theory holds that business fluctuations are caused by
A. "stop-and-go" monetary policies. B. factors affecting aggregate demand. C. significant changes in technology and resource availability. D. incorrectly anticipated government stabilization policies.
Which of the following is NOT an example of physical capital?
A) a computer B) a lawn mower C) a dump truck D) a building E) a bond
The table above gives Jane's total utility from magazines and CDs. The price of a magazine is $4 and the price of a CD is $10. Which of the following CORRECTLY illustrates the principle of diminishing marginal utility? The fact that
A) the sixth magazine has less marginal utility than the sixth CD. B) Jane's marginal utility per dollar from the second magazine is the same as her marginal utility per dollar from the third CD. C) the marginal utility per dollar from the sixth magazine is less than the total utility from six magazines. D) the marginal utility of the third CD is less than the marginal utility of second CD.
In the above figure, CBL is the cost of breaking the law. If it is illegal to buy and sell, then the price per unit will be
A) $500. B) $400. C) $300. D) $200.