If a common area is turned into a private resource, the owner will have incentives for using that resource efficiently.
Answer the following statement true (T) or false (F)
True
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If the price level in the United States is 110, the price level is 135 in Mexico, and the nominal exchange rate is 12.5 pesos per dollar, what is the real exchange rate from the U.S. perspective?
A) 8.8 B) 10.2 C) 10.8 D) 11.4
A doubling of income will result in a doubling of autonomous investment
Indicate whether the statement is true or false
Index of the average prices of goods and services throughout the economy (up when prices rise, down when prices fall)
What will be an ideal response?
Refer to the above figure. If a price floor of $5 was set
A. there would be a shortage of 40 units. B. there would be a shortage of 20 units. C. there would be a surplus of 40 units. D. the quantity sold would be 80 units.