How many dollars would it cost to buy an Edinburgh Woolen Mill sweater costing 50 British pounds if the exchange rate is 1.50 dollars per one British pound?
A) 50 dollars
B) 60 dollars
C) 70 dollars
D) 80 dollars
E) 75 dollars
E
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The larger the U.S. imposed per unit import tariff on a good imported and produced in the U.S.,
A) the smaller the U.S. consumer surplus. B) the larger the U.S. producer surplus. C) the larger the government revenue. D) All of the above.
The antitrust laws in the United States were created in the late 1800s as a result of :
a. the emergence of large and dominant businesses in railroads, steel, oil, mining and finance. b. the government decision to take responsibility for the improvement of trade deficit. c. the first illegal cartel, created in late 1800s. d. a steep decline in prices of primary goods in the United States. e. the threats of an external aggression received by the country.
A firm is producing 1,000 units of output for which the average variable cost of production equals 50 cents. The firm's total fixed costs equal $700 . The total cost of producing 1,000 units of output equals: a. $700
b. $500. c. $1,000. d. $1,200.
The current U.S. unemployment insurance program
a. tends to significantly lower the unemployment rate. b. tends to modestly lower the unemployment rate. c. has no effect on the unemployment rate. d. tends to raise the unemployment rate.