The decline in the value of the dollar from 1985 to 1988 was beneficial to
A. American tourists travelling to Europe.
B. firms importing goods into America.
C. American exporting businesses.
D. foreigners holding U.S. government bonds.
Answer: C
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Refer to the figure above. What is the initial equilibrium wage rate and employment level?
A) $60 and 20 units of labor B) $40 and 40 units of labor C) $50 and 40 units of labor D) $20 and 40 units of labor
Changes in the capital stock occur ________, and changes in the amount of labor that firms employ occur ________
A) quickly; quickly B) slowly; slowly C) slowly; quickly D) quickly; slowly
Which of the following statements about junk (high-risk) bonds is true?
A) They never outperform treasury bonds since they're too risky. B) The price of junk bonds increase as their perceived risk increases. C) They tend to perform best during recessions. D) One can profit by owning them if market perceptions of their risk decline.
Deciding if a company will produce automobiles by robotics or manual labor answers the economic question of:
A. "who consumes the products produced?" B. "what products will be produced?" C. "where will the products be consumed?" D. "how will the products be produced?"