A depreciation of the South Korean won against the U.S. dollar will
A. Raise the dollar price of Korean goods.
B. Lower the won price of Korean goods.
C. Lower the dollar price of U.S. goods.
D. Raise the won price of U.S. goods.
Answer: D
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The following data show Uruguay's GDP using purchasing power parity in billions of dollars
Year 2000 2001 2002 2003 2004 2005 2006 2007 2008 GDP($) 26.1 25.8 23.3 24.3 27.9 30.1 33.9 37.2 40.2 Using the data, we can conclude that A) Uruguay's economy reached a peak in 2000. B) GDP per person in Uruguay almost doubled between 2000 and 2008. C) potential GDP in Uruguay doubled between 2000 and 2008. D) Uruguay's economy was entered a recession in 2008.
Prior to 1984, which of the following groups were exempted from the Social Security program?
a. federal workers b. Teamsters c. members of Congress d. a and c
Which of the following about inflation is true?
a. Anticipated inflation is an increase in the price level that comes as a surprise, at least to most individuals. b. Unanticipated inflation is a change in the price level that is widely expected. c. Decision makers are generally able to anticipate slow steady rates of inflation with a fairly high degree of accuracy. d. Inflation will increase the prices of goods and services that households purchase but not the wage rates of workers.
Smith and Jones comprise a two-person economy. Their hourly rates of production are shown in the accompanying table. Calculators Per HourComputers Per HourSmith10010Jones1206 Suppose Smith and Jones begin by producing 16 computers and 0 calculators per hour. If they wish to produce 14 computers and 40 calculators per hour efficiently, then Smith should spend ________, and Jones should spend ________.
A. 1 hour making computers; 20 minutes making computers and 40 minutes making calculators B. 30 minutes making each; 30 minutes making each C. 1 hour making computers; 40 minutes making computers and 20 minutes making calculators D. 45 minutes making computers and 15 making calculators; 1 hour making calculators