Which of the following is not part of a nation's infrastructure?
A. Communications facilities.
B. Roads, highways, and bridges.
C. The electrical power system.
D. Industrial plants and equipment.
D. Industrial plants and equipment.
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Suppose the GDP deflator in the United States is 125 and the GDP deflator in Japan is 100. Also assume the United States has trade barriers on Japanese goods in the form of quotas
What does this imply about the exchange rate of yen per dollar under the theory of purchasing power parity in the long run? A) The exchange rate of yen per dollar will be equal to 1.25. B) The exchange rate of yen per dollar will be greater than 0.8. C) The exchange rate of yen per dollar will be less than 0.8. D) The exchange rate of yen per dollar will be equal to 0.8.
Which of the following is a fixed payment loan?
A) a home mortgage B) a U.S. Treasury bill C) a U.S. Treasury note D) a zero-coupon bond
The economist assumes that people act in accordance with the equimarginal principle, because the economist assumes that people are
a. altruistic. b. selfish. c. rational. d. price takers.
Using the production possibilities curve, a technological advance that increases the amount of output for both goods while using the same amount of inputs would be illustrated by which of the following?
What will be an ideal response?