Suppose the supply of dollars increased from S1 to S2 in Figure 36.3. As a result of this change,
A. U.S. computer exports to Switzerland will be lower-priced.
B. The Swiss franc will lose value worldwide.
C. Swiss chocolate imports to the United States will be lower-priced.
D. A trade surplus will be created in Switzerland.
Answer: A
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According to the efficiency wage model, firms will pay the real wage that
A) maximizes workers' marginal productivity. B) maximizes the marginal productivity of capital and the marginal productivity of labor together. C) maximizes effort per dollar of real wage. D) minimizes hiring and training costs to the firm.
Many used car owners and used car dealers describe their different cars for sale in the local newspapers and list their asking price. Many people shopping for a used car consider the different choices listed in the paper
The market for used cars could be described as A) relatively competitive. B) perfectly competitive. C) non-competitive. D) having high transaction costs.
All of the following are examples of capital except:
A. the robot used to help produce your car. B. the classroom in which you learn. C. the factory that produces the costume jewelry you buy. D. an uncut diamond that you discover in your backyard.
The ________ is the chief executive body of the European Union (EU)
A) European Parliament B) European Executive Branch C) European Trade Body D) European Commission