A dining table costs $3,000 in New York and the same table costs 5,000 euros in Rome. Thus, $1 is equal to:
a. one euro.
b. 2 euros.
c. 1.67 euros.
d. 0.6 euros.
Ans: c. 1.67 euros.
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The above figure shows the market for buckets of golf balls at the driving range. A new leisure time tax is placed on suppliers in this market, shifting the supply curve from S0 to S1. The amount of this tax is ________ per bucket of golf balls
A) $4 B) $2 C) $2.50 D) $1 E) $3
If the government wished to shift aggregate demand to the right, it might:
A. increase government spending. B. increase income taxes. C. pressure the Fed to decrease the money supply. D. Any of these things might cause aggregate demand to shift to the right.
Wages are comparatively low in markets where demand for labor is high and supply is low.
Answer the following statement true (T) or false (F)
Some of the newer pollutants that have appeared
a. are far more visible to the eye than older pollution. b. cause damage that is easily reversible. c. pose no significant long-term hazards. d. are far more dangerous than older forms of pollution.