Refer to the information provided in Table 33.6 below to answer the question(s) that follow.
Table 33.6
Refer to Table 33.6. Trade will flow in both directions between countries only if the price of the euro is between
A. $.60 and $.75.
B. $.40 and $.50.
C. $1.00 and $2.25.
D. $.44 and $1.00.
Answer: D
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Referring to Figure 19.1, if the exchange rate is currently 11 pesos per dollar, then we expect the dollar to ________ and the peso to ________
A) depreciate; depreciate B) appreciate; depreciate C) depreciate; appreciate D) appreciate; appreciate
Observe the difference in vending machines between canned soda and newspapers. Typically, if you insert coins into a newspaper vending machine and open it you will see available all of the copies of the newspaper within one's reach
However, soda machines are very different. They work such that only one can is dispensed at a time. The rest of the canned soda is well out of reach. Explain in terms of marginal utility why the newspaper distributor is relatively unconcerned about the rest of the newspapers being taken without payment while the soda distributor uses a machine that goes to great lengths to insure that only one can of soda is dispensed at a time.
The setting of minimum wages in the U.S. began with the ________
A) Sherman Anti-Trust Act of 1890 B) Garn St. Germain Act of 1982 C) Depository Institutions Deregulation and Monetary Control Act of 1980 D) Fair Labor Standards Act of 1938
The figure below shows the demand for items from a warehouse club. All of the people who shop at the warehouse club have the same demand. If the managers set a single price, so that all customers pay the same price for every item they buy, the price will be ________ and the company will sell ________ units.
A) $10 per unit; 10 million
B) $6 per unit; 20 million
C) $6 per unit; 10 million
D) None of the above answers is correct.