Which of the following parties is most likely to benefit when the U.S. dollar becomes stronger compared to foreign currencies?
a. U.S. tourist attractions, such as Disney World and Disney Land
b. foreign companies that import U.S. goods to their countries
c. American manufacturers of consumer goods
d. foreign manufacturers of automobiles
d. foreign manufacturers of automobiles
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A cost-benefit calculation that focuses on the difference between a feasible alternative and the next feasible alternative is called:
A) marginal analysis. B) market analysis. C) Pareto analysis. D) behavioral analysis.
Refer to the Article Summary. Assume that foreign governments begin to publicize their existing medical services to American medical tourists and more Americans consider hip-replacement surgery to improve their quality of life
What will happen in the market for hip-replacement surgery as a result of these two factors? A) Demand will increase, but these two factors will not shift the supply curve. B) Demand will increase and supply will decrease. C) Supply will increase, but these two factors will not shift the demand curve. D) Demand and supply will both increase.
Contractionary monetary policy and expansionary fiscal policy both reduce net exports in an open economy
Indicate whether the statement is true or false
Alland can produce 48 units of food per person per year or 16 units of clothing per person per year, and Georgeland can produce 16 units of food per year or 8 units of clothing. Which of the following statements is true? a. Alland has a comparative advantage, but not an absolute advantage, in producing clothing. b. Alland should specialize in the production of clothing
c. Georgeland has both a comparative and an absolute advantage in producing clothing. d. Alland should specialize in the production of food.