Which of the following was a country that ran large deficits in the mid-1990s, and plunged into deep recession in 1997 and 1998 when foreign investors became concerned about the health of these economies, and quickly pulled their money out of stock and bond markets, real estate, and banks?
a. North Korea
b. Argentina
c. Thailand
d. India
c. Thailand
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Because some monopolies could still earn an economic profit even if the firm is inefficient, corporate executives might waste resources by indulging in
a. long lunches b. corporate jets c. plush offices d. None of the answers is correct. e. All of the answers are correct.
If the median income in Canada is $50,000 . it means
a. that the poverty level is $50,000 b. that all Canadians earn $50,000 c. Canadians who earn $50,000 or more are classified as rich d. 50 percent of Canadians who do not earn $50,000 earn less than $50,000 and 50 percent of Canadians who do not earn $50,000 earn more than $50,000 e. that the average income in Canada is $50,000
Assuming all other things equal, what would happen to the U.S. dollar real exchange rate under each of the following circumstances?
a. The U.S. nominal exchange rate depreciates. b. U.S. domestic prices increase. c. Prices in the rest of the world rise.
Refer to Table 3-1. If the table represents the willingness to pay of four buyers and the price of the product is $15, then who would be willing to purchase the product?
a. Mike b. Mike and Sandy c. Mike, Sandy, and Jonathan d. Mike, Sandy, Jonathan, and Haley