If British tastes changed so that Britons began to desire more American goods, there would be
a. a rightward movement along the supply of British pounds curve in the dollar-pound market
b. a leftward movement along the supply of British pounds curve in the dollar-pound market
c. a rightward shift of the supply of British pounds curve in the dollar-pound market
d. a leftward shift of the supply of British pounds curve in the dollar-pound market
e. no change in the supply of British pounds curve in the dollar-pound market
C
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“Plowback” is a preferred source of financing a corporation because
A. the funds are easier to obtain, compared to issuing stocks. B. it is not subject to double taxation. C. selling bonds involves the high cost of money. D. stock markets are subject to random walks.
The U.S. has a higher infant mortality rate than other developed countries. This is most likely a result of
a. poor medical care. b. poverty. c. poor access to medical care. d. the cause or causes are unknown. e. both b and c are true.
The law of increasing opportunity cost reflects the fact that
a. the production possibilities frontier is bowed inward b. resources are not perfectly substitutable c. resources cannot always be used efficiently d. an economy will operate at a point inside the production possibilities frontier e. an economy will operate at a point along the production possibilities frontier
The opportunity cost of an airplane flight: a. differs across passengers only to the extent that each traveler pays a different airfare
b. is identical for all passengers and equal to the number of hours a particular flight takes. c. differs across passengers to the extent that both airfares paid and the highest valued use of travel time vary. d. is equal to the cost of a bus ticket, the next best form of alternative transportation to flying.