Which of the following groups would like to see a rise in the value of the dollar vs. the euro?
A. Americans planning a European vacation.
B. Exporters of American made tractors and combines.
C. Foreign exchange speculators.
D. Europeans planning an American vacation.
A. Americans planning a European vacation.
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What is the largest category in state government spending?
A. education B. public welfare C. highways D. police and correction
Abe can catch 15 pounds of fish an hour or pick 30 pounds of fruit an hour. He works an 8-hour day, spending 5 hours picking fruit and 3 hours catching fish. Calculate Abe's opportunity cost of a pound of fruit
A) 6 minutes B) 3 hours a day C) 2 pounds of fish D) 0.5 pounds of fish
Some economists believe that there are positives from a little inflation and that it may "grease the wheels"
a. in the stock market. b. in the foreign exchange market. c. in the bond market. d. in the labor market.
Malmud wants to know how much the economy of his country has grown since he was born 30 years ago. First, he compares the GDP from 30 years ago to today’s GDP and finds that the economy grew by over 300 percent. This seems wrong to Malmud, because he does not believe his country is vastly wealthier than it was when he was young. Then he realizes that he has not considered how much the population of his country has grown over that same period. To get a better picture of how much the country’s economy has grown, he should look at the change in ______.
a. average incomes b. physical capital c. real GDP per capita d. diminishing returns