Which of the following is a disadvantage of the European Monetary Union to member countries?
A. Less monetary independence for each member
B. Lower cost of exchanging currencies
C. A reduced likelihood of conflict between members
D. Greater price transparency
Answer: A
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An economy has two workers, Paula and Ricardo. Everyday they work, Paula can produce 4 computers or 16 shirts, and Ricardo can produce 6 computers or 12 shirts. What is the opportunity cost for Paula to produce one shirt?
A. ½ computer B. 4 computers C. 2 computers D. ¼ computer
When the dollar appreciates relative to foreign currencies, it means that ________.
A. foreigners need less of their currency to buy one dollar B. we can buy less foreign currency with a given amount of dollars C. we need more dollars to buy each unit of another currency D. the value of foreign currencies decreased relative to our dollar
List three reasons why demand for a product will often increase if the product is endorsed by a celebrity
What will be an ideal response?
Which of following is the best example of a monopoly if we use a broader definition of monopoly?
A) Spuds McKenzie, a wealthy potato farmer in Idaho B) Cheap Gas, one of two gasoline stations in a large rural community C) Santos Tacos, the only taqueria in the small town of Santosville D) Zippie Rentals, a car rental service in Boston