If the real exchange rate between the United States and Japan is ________, then it is cheaper to buy goods in Japan than in the United States
A) greater than 1.0
B) greater than 0.5
C) less than 0.5
D) less than 1.0
A
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If the price is below the equilibrium price,
A) there is a surplus. B) there is a shortage. C) the supply curve will shift rightward. D) the supply curve will shift leftward. E) the demand curve will shift leftward.
Considering the tax and transfer system in the United States, the poor receive
A) less in benefits than they pay in taxes, and so do the rich. B) more in benefits than they pay in taxes, and so do the rich. C) less in benefits than they pay in taxes, and the rich receive more in benefits than they pay in taxes. D) more in benefits than they pay in taxes, and the rich receive less in benefits than they pay in taxes.
The Solo Coal Mine is the only employer in the small town of Way out there. The market supply of coal miners is Qs = 0.02W - 400 and Qd = 500 - 0.02W, where W is the annual wage of a coal miner and Q is the number of coal miners. What wage must be paid at the profit maximizing quantity of coal miners?
A. $23,333 B. $16,670 C. $13,336 D. $21,667
Refer to the given information. The rate of inflation:
A. is 110 percent.
B. is 10 percent.
C. is 0 percent.
D. cannot be determined from the data.