If purchasing-power parity holds, the price level in the U.S. is 140, and the price level in Canada is 120, which of the following is true?
a. the real exchange rate is 120/140.
b. the real exchange rate is 140/120.
c. the nominal exchange rate is 120/140
d. the nominal exchange rate is 140/120
c
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The entrepreneur
A. runs his or her own business and risks his or her own money. B. does not necessarily run her or his own business nor risks her or his own money. C. runs his or her own business, but does not necessarily risk his or her own money. D. does not necessarily run her or his own business, but does risk her or his own money
Which of the following graphical representations can be used most appropriately to show the distribution of a household's income, in terms of percentages, among the various categories of expenses?
A) A bar chart B) A time-series graph C) A pie chart D) A histogram chart
Suppose there are 100 identical firms in the rag industry, and each firm is willing to supply 10 rags at any price. The market supply curve will be a
A) vertical line where Q = 10. B) vertical line where Q = 100. C) vertical line where Q = 1000. D) horizontal line where Q = 1000.
Refer to the information provided in Figure 13.10 below to answer the question(s) that follow. 
Figure 13.10 Refer to Figure 13.10. If Armstrong Cable is forced to sell the efficient level output, it will
A. incur a loss of $7,250. B. incur a loss of $1,250. C. earn a profit of $4,000. D. earn a zero profit.