The decrease in the value of the dollar relative to the Mexican peso
A. increased the dollar price paid and decreased the peso price received for Mexican goods imported into the U.S.
B. decreased both the dollar price paid and the peso price received for Mexican goods imported into the U.S.
C. increased both the dollar price paid and the peso price received for Mexican goods imported into the U.S.
D. decreased the dollar price paid and increased the peso price received for Mexican goods imported into the U.S.
C. increased both the dollar price paid and the peso price received for Mexican goods imported into the U.S.
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If the price elasticity of demand for chocolate is -2.0 what should we expect would happen to consumption of chocolate if the price falls by 10%? What about a 50% decrease?
What will be an ideal response?
Jim is planning on attending a football game that costs $40 . He will have to take the day off from the work losing 8 hours of work. His hourly wage is $10 . He estimates it will cost him around $20 for gas and parking at the game. Jim's implicit (opportunity) cost of attending the game equals
a. $80 b. $40 c. $20 d. $140
Specialization describes the occurrence when a country shifts resources to focus on producing a good that offers ____________ advantage and the lowest opportunity cost.
a. marginal b. comparative c. minimal d. profit
One of the reasons why firms pollute the air is that
A. use of the air is not easily excludable. B. use of the air is costless to society. C. use of the air is excludable. D. moral hazard creates incentives to pollute the air.