Refer to Figure 2-8. What is the opportunity cost of producing 1 ton of coconuts in Costa Rica?
A) 3/8 of a ton of pineapples B) 2/3 of a ton of pineapples
C) 1 1/2 tons of pineapples D) 100 tons of pineapples
B
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Which of the following expressions represents a cross-price elasticity of demand?
a. percentage change in quantity demanded of bread divided by percentage change in quantity supplied of bread b. percentage change in quantity demanded of bread divided by percentage change in price of butter c. percentage change in price of bread divided by percentage change in quantity demanded of bread d. percentage change in quantity demanded of bread divided by percentage change in income
Because the price level does not affect the long-run determinants of real GDP, the long-run aggregate-supply curve is upward-sloping.
a. true b. false
The problem of political instability has been greatest in which continent?
A. South America B. Europe C. Asia D. Africa
The current account is
A. the price of one nation's currency in term of the currency of another country. B. a category of the balance of payments transactions that measures the exchange of merchandise, the exchange of services, and unilateral transfers. C. the reserve assets created by the International Monetary Fund for countries to use in settling international payment obligations. D. a category of the balance of payments transactions that measures flows of real and financial assets.