If the stock of money is $60 billion, velocity is 5, and real output is $100 billion, what is the price level?
A. 0.12
B. 1.4
C. 3
D. 6
Answer: C
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Airlines offer lower prices to vacationers than to business travelers because
A) of government regulations requiring them to do so. B) business travelers do not care at all about costs. C) business travelers are less flexible in their travel plans than vacationers are. D) airlines know that business travelers enjoy flying more than vacationers do.
Refer to the table below. What is the profit-maximizing price for Gorgeous Sands Resort to charge during the off-peak period?
The table above summarizes Gorgeous Sands Resort's marginal capacity cost, marginal operating cost, peak marginal revenue, off-peak marginal revenue, and its peak and off-peak demand for its resort units.
A) $2,500 B) $1,750 C) $2,000 D) $1,250
Real per capital GDP in the United States is:
A. over 30 times what it was a century ago. B. about the same as it was a century ago. C. over three times what it was a century ago. D. over seven times what it was a century ago.
Which of the following would make the effects of globalization worse for the United States?
A. China and India raise the value of their currencies. B. China and India move up the value-added chain. C. Wages in China and India rise, leading to more outsourcing. D. China and India move down the value-added chain.