If 1 U.S. dollar exchanges for 122.57 Japanese yen, how much would it cost in U.S. dollars and cents to purchase a Toyota Camry priced at 2 million yen?
What will be an ideal response?
2,000,000 รท 122.57 = $16,317.21
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A major contribution of the Solow model is its ________
A) insight into what distinguishes rich economies from poor economies B) explanation of why productivity grows over time C) demonstration that the key to sustained growth is a high level of saving D) encouragement of policies to limit population growth
An economic variable that is measured per unit of time, such as spending per year, is known as a: a. stock variable
b. periodic variable. c. dummy variable. d. flow variable. e. controlled variable.
Suppose somebody made the following statement: "There will never be a substitute for Howard Stem, the Sirius radio shock-jock." The economic way of thinking suggests that this statement
What will be an ideal response?
Select the phrase that correctly completes the following statement. "A decrease in the number of manufacturers caused a decrease in the supply of sailboats. As a result
A) the price of sailboats increased and the demand for sailboats decreased." B) the equilibrium quantity of sailboats increased." C) the price of sailboats increased and the quantity of sailboats demanded decreased." D) the price of sailboats increased. The higher price caused the supply of sailboats to increase."