In 1990, the GDP of Canada was $680 billion as measured in Canadian dollars, and the exchange rate was that $1 Canadian was worth 85 U.S. cents. In 2000, the GDP of Canada was $1000 billion as measured in Canadian dollars, and the exchange rate was that $1 Canadian was worth 69 U.S. cents. By what percentage did the GDP of Canada increase from 1990 to 2000 in Canadian dollars?
a. 19.4%
b. 47%
c. 68%
d. 147%
b. 47%
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The demand curve depicts quantities demanded that have been gathered as prices have changed over time.
Answer the following statement true (T) or false (F)
The above figure shows the short-run production function for Albert's Pretzels. The marginal productivity of labor for the third worker is
A) 6. B) 8. C) 24. D) not known from the information provided.
Is a uniform per-unit tax on firms that cause an externality an optimal policy for correcting the externality? Explain
What will be an ideal response?
In the long run which of the following is true?
A) Total cost = fixed cost + variable cost. B) The size of a firm's physical plant can be changed but the firm cannot adopt new technology. C) There are no fixed costs. D) The firm can vary its explicit costs but not its implicit costs.