From the beginning of 1973 until August 2015, the value of the dollar has ________ relative to the Canadian dollar and ________ relative to the Japanese yen
A) depreciated; appreciated B) appreciated; depreciated
C) depreciated; depreciated D) appreciated; appreciated
B
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If the economy's real GDP doubles in 18 years, we can
A. conclude that its average annual rate of growth is 12%. B. conclude that its average annual rate of growth is 4%. C. not say anything about the average annual rate of growth. D. conclude that its average annual rate of growth is 8%.
Due to resource scarcity,
a. some economic activities have an opportunity cost b. all economic activities have an opportunity cost c. no economic activities have an opportunity cost d. economic activities have opportunity costs equal to their market prices e. economic activities have opportunity costs generally lower than their market prices
The law of demand states that price and ______________ are _____________ related, ceteris paribus
A) demand; inversely B) quantity demanded; inversely C) demand; directly D) quantity demanded; directly E) ?quantity supplied; directly
Screening is when someone takes action to:
A. find out the opportunity cost of acquiring more information. B. reveal private information about someone else. C. reveal one's own private information. D. None of these statements is true.