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. If the exchange rate is $1 = 2 euros, then
A. France will import both peas and carrots.
B. the United States will import both peas and carrots.
C. France will import peas.
D. the United States will import peas and France will import carrots.
Answer: D
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Which of the following statements is FALSE?
A) Saving helps create economic growth. B) Economic freedom requires property rights. C) Free international trade helps create economic growth. D) Improvements in quality of education are important for economic growth. E) Faster population growth is the key to growth in real GDP per person.
Employment of labor in a country other than the firm's home country is called
A) employing guest workers. B) outsourcing. C) employing non-naturalized workers. D) employing illegal aliens.
Which of the following occurs during a recession?
a. Output falls, employment rises, and unemployment rises. b. Output rises, employment falls, and unemployment falls. c. Output falls, employment falls, and unemployment rises. d. Output rises, employment rises, and unemployment falls. e. Output falls, employment falls, and unemployment falls.
Which of the following causes a movement along a supply curve?
A. a change in technology B. a change in resource costs C. a change in the price D. all of these